Credit: Shutterstock photoApparel retailer Nordstrom, Inc. ( JWN ) late Thursday posted better-than-expected second quarter earnings, sending its shares higher in aftermarket trading.
The Seattle-based company reported second quarter net income of $175 million, or 80 cents per share, compared with $146 million, or 66 cents per share, in the year-ago period.
Revenue rose more than 12% from last year to $2.72 billion.
On average, Wall Street analysts expected a smaller profit of 74 cents per share, on matching revenue of $2.72 billion.
Nordstrom shares rose $2.07, or +4.9%, in premarket trading Friday.
The Bottom Line
Shares of Nordstrom Inc. ( JWN ) have a 2.17% dividend yield, based on last night's closing stock price of $42.33. The stock has technical support in the $35-$36 price area. If the shares can firm up, we see overhead resistance around the $45-$47 price levels.
Nordstrom, Inc. ( JWN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
