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.

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