Nordstrom Inc. (JWN) has reported a decline in profits for the third quarter compared to the same quarter last year; however, the results exceeded market expectations. This quarter, the company posted earnings of $46 million, or $0.27 per share, down from $67 million, or $0.41 per share, recorded in the corresponding quarter a year prior. When adjusted for certain items, Nordstrom's earnings amounted to $0.33 per share for this period.
Market analysts, whose forecasts often exclude special items, had anticipated average earnings of $0.22 per share, according to data sourced from Thomson Reuters.
In terms of revenue, Nordstrom experienced a significant increase of 4.6%, reaching $3.347 billion, up from $3.200 billion in the previous year.
Key financial highlights for Nordstrom Inc. (GAAP) in the third quarter are as follows:
- Earnings: $46 million compared to $67 million the previous year.
- Earnings Per Share (EPS): $0.27, down from $0.41 last year.
- Revenue: $3.347 billion, an increase from $3.200 billion the previous year.
For the fiscal year, Nordstrom has provided earnings per share (EPS) guidance in the range of $1.75 to $2.05.
