Nordstrom is getting annihilated after abysmal earnings

High-end retailer Nordstrom is getting rocked Thursday afternoon after abysmal earnings.

The company posted earnings of $0.26 per share against expectations of $0.46 a share. Sales also were terrible, with a drop of -1.7% in comparable stores sales. Revenue was slightly lighters than expected at $3.25 billion for the quarter.

The stock is down 14.5% in after-hours trading as of 4:11 p.m. ET.

More to come…

NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at