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Nordstrom +3% as Q2 same-store sales growth beats estimates

Published 08/10/2017, 05:39 PM
© Reuters.  Nordstrom +3% as Q2 same-store sales growth beats estimates
JWN
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  • Nordstrom (NYSE:JWN) +3.2% AH after reporting generally in-line Q2 earnings and revenues but a surprise 1.7% same-store sales gain that came in well ahead of the 0.5% decline forecast by analysts.
  • JWN says results were helped by a better than usual performance from its Anniversary Sale, historically the company's largest event of the year, as well as a strong showing from its private brands.
  • JWN upwardly revises guidance for FY 2017 sales growth, now expecting sales at the high end of its previous 3%-4% range; it sees EPS of $2.85-$3.00, up from $2.75-$3.00 previously, although the EPS range remains below the $3.01 analyst consensus estimate, and continues to forecast flat same-store sales.
  • Now read: Hey, You, Get Off My Cloud


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