Nordstrom puts out ugly earnings outlook, shares crater
Feb 19, 2016, 02:47 IST
Nordstrom shares fell by as much as 6% after-hours on Thursday after the company gave disappointing guidance for future earnings.
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As part of its fourth-quarter earnings announcement, the retailer said it expects full-year adjusted earnings per share (EPS) of between $3.10 and $3.35, but analysts had expected up to $3.55 according to Bloomberg.
The company projected that EPS in the fiscal year 2017 would decline by about 30% compared to the prior year.
The shares had fallen 34% in the past 12 months ahead of the earnings announcement.
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