Nordstrom (JWN) Reports Q3 EPS of 57c, Cuts FY Guidance

(Updated - November 12, 2015 4:14 PM EST)

Update corrects EPS to reflect items.

Nordstrom (NYSE: JWN) reported Q3 EPS of $0.42, may not compare the analyst estimate of $0.72. (This included a reduction in earnings per diluted share of $0.15, which primarily represented transaction costs associated with the closing of its credit card portfolio sale.) Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $3.37 billion.

The Company said its third quarter performance was below Company expectations, reflecting softer sales trends that were generally consistent across channels and merchandise categories.

Total Company net sales increased 6.6 percent and comparable sales increased 0.9 percent, compared with the same period last year. On a year-to-date basis, total Company net sales increased 8.5 percent and comparable sales increased 3.5 percent.

Nordstrom sees FY2015 EPS of $3.30-$3.40, versus prior guidance of $3.85-$3.95 and the consensus of $3.80.

FISCAL YEAR 2015 OUTLOOK

The Company updated its annual earnings per diluted share expectations, incorporating third quarter results. Nordstrom's expectations for fiscal 2015 are as follows:

1 The impact of the credit transaction and other primarily represents revenue-sharing related to the program agreement, transaction costs, non-cash accounting adjustments and other loss.

For earnings history and earnings-related data on Nordstrom (JWN) click here.

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