Nordstrom, Inc. (JWN) Tops Q1 EPS by 4c, Seeks Partner for Credit Card Receivables

Nordstrom, Inc. (NYSE: JWN) reported Q1 EPS of $0.72, $0.04 better than the analyst estimate of $0.68. Revenue for the quarter came in at $2.84 billion versus the consensus estimate of $2.86 billion.

Nordstrom comparable sales, which consist of the full-line and Direct businesses, increased 3.3 percent compared with last year’s comparable sales increase of 3.1 percent. Top-performing merchandise categories included Accessories, Women’s Shoes, and Cosmetics.

The Company believes there is an opportunity to explore a financial partnership in which it can maintain its customer focus while gaining greater financial flexibility. With any potential transaction, the Company does not expect any change to the customers’ experience and plans to retain all key aspects of the customer relationship. The Company expects any such partnership to have a minimal impact on existing operations and jobs.

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

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