Nordstrom’s Stock Value Wavers in After-Hours Trading Following Q1 2020 Earnings Miss, Efficiency Gains
Investor reaction to Nordstrom's (NYSE: JWN) first-quarter 2020 earnings report seems mixed, at least as indicated by after-hours trading, with share prices rapidly see-sawing between positive and negative territory. The high-end retailer reported on its first-quarter earnings today, revealing a strong COVID-19-related sales drop and both earnings per share (EPS) and revenue falling significantly short of investor consensus.
The company's earnings per share missed both GAAP and non-GAAP Wall Street expectations, coming up at -$2.25 and -$0.96, respectively. Analysts forecast revenues would amount to $2.27 billion, or $150 million more than the $2.12 billion Nordstrom actually managed to deliver. Just yesterday, investors bid up the company's shares nearly 15% based on expectations.
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Source Fool.com
