Nordstrom is spiking after a stellar fourth quarter

Nordstrom reported fourth-quarter profit that beat Wall Street expectations on Thursday, and the stock is up 6.51% at $US46.80 a share.

Here are the numbers:

  • Net earnings of $US201 million, or $US1.15 per share, compared to $US180 million, or $US1 per share, the previous year
  • Adjusted EPS of $US1.37 compared to analyst expectations of $US1.15, according to Reuters
  • Total revenue increased 2% to $US4.32 billion in the period, which fell short of analyst expectations of $US4.37 billion

The department store operator was boosted by outlet Nordstrom Rack, which saw comparable sales increase 4.3%, while the Nordstrom brand experienced a decrease in comparable sales of 2.7%.

The company expects 2017 net sales growth of 3-4% and 2017 EPS of $US2.75-$US3 per share for the full year.

Nordstrom has been in the news for cutting ties with Ivanka Trump’s brand earlier in February, a move the company attributed to declining sales.

Visit Markets Insider for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. Go Now!

NOW WATCH: ‘Sit down! Quiet!’: Watch Trump’s heated exchanges with reporters in his longest press conference as president

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.