Nordstrom spikes after crushing earnings

Nordstrom crushed earnings on Thursday, capping off a strong day for the retail industry.

The high-end department store reported adjusted earnings of $0.84 per share versus analyst expectations of $0.51. Revenue rose 7.2% from a year ago to $3.54 billion, ahead of the $3.48 billion that the Bloomberg consensus was looking for.

“We’ve made considerable changes in the way we operate to improve the customer experience while increasing our productivity,” said co-president Blake Nordstrom in the earnings release
. “We are particularly proud of our team’s efforts to align inventories and improve our operating efficiencies. These outcomes have positively impacted our operating results.”

The announcement comes after a strong day for the retail industry. Macy’s, Kohl’s, and Ralph Lauren all reported better than expected quarterly results.

Prior to the earnings, Nordstrom’s stock was up 7.15% for the day.

In after-hours trading, the stock gained another 7.44%, to $60.20 a share, as of 4:44 p.m. ET.

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