Nordstrom puts out ugly earnings outlook, shares crater

Nordstrom reported fourth-quarter revenues and earnings below expectations Thursday, with weak guidance, and the shares tanked 7%.

As part of its fourth-quarter earnings announcement, the retailer said it expects full-year adjusted earnings per share (EPS) of between $3.10 and $3.35, but analysts had expected up to $3.55 according to Bloomberg.

The company projected that EPS in the fiscal year 2017 would decline by about 30% compared to the prior year.

For the fourth quarter, reveues totaled $4.19 billion, below Wall Street’s foreacst for $4.22 billion EPS excluding impairments was $1.17, missing the projection for $1.21.

The shares had fallen 34% in the past 12 months ahead of the earnings announcement.

More to come …

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