Nordstrom JWN just released its first quarter financial results, posting adjusted earnings of $0.51 per share and revenues of $3.56 billion.
Nordstrom is currently a Zacks Rank #2 (Buy), which is subject to change based on today's results. Shares of Nordstrom are up 25% over the last year and have climbed nearly 8% in the last four weeks. The department store's stock also popped 0.49% on Thursday to hit $50.93 per share prior to the release of its quarterly earnings results.
Nordstrom stock is currently down 6.32% to $47.69 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates . The company posted adjusted earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.42 per share.
Beat revenue estimates . The company saw revenue figures of $3.56 billion, topping our consensus estimate of $3.47 billion.
Nordstrom saw its quarterly revenues climb by roughly 6% from $3.35 billion in the year-ago period. Meanwhile, the department store's Q1 comparable store sales grew just 0.6%.
Nordstrom also noted that it has opened eight total stores in fiscal 2018, while only closing one location. Looking ahead, the company called for full-year revenue to fall between $15.2 billion and $15.4 billion, which falls below our current consensus estimate of $15.8 billion.
Here's a graph that looks at JWN's Price, Consensus and EPS Surprise history:
Nordstrom, Inc. Price, Consensus and EPS Surprise
Check back later for our full analysis on JWN's earnings report!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.