Why Nordstrom Stock Popped Today
Shares of the department store chain Nordstrom (NYSE: JWN) jumped 3.3% through 1 p.m. ET on Thursday after beating analyst forecasts for first-quarter earnings last night.
Heading into the quarter, analysts were feeling pretty downbeat about Nordstrom, predicting the retail stock would lose $0.08 per share on sales of $3.12 billion. As it turned out, sales came in at a healthy $3.18 billion, and instead of losing money, Nordstrom earned a surprise profit of $0.07 per share! Or did it?
But while sales beat expectations, they were still down more than 11% year over year. What's more, the $0.07 per share in profit that Nordstrom investors seem so happy about today was an adjusted number. When calculated according to generally accepted accounting principles (GAAP), Nordstrom actually reported a $1.27 loss per share.
Source Fool.com
Nordstrom Inc. Stock
Currently there is a rather negative sentiment for Nordstrom Inc. with 4 Buy predictions and 10 Sell predictions..
This results in a negative potential of -36.15% based on a current price of 20.36 € and a target price of 13 € for the stock.
