Nordstrom spikes on strong guidance

by MR Magazine Staff

Nordstrom shares were up 7.5% late Thursday after the company reported full-year earnings guidance that topped Wall Street estimates. For the fourth quarter, the retailer reported mixed results, earning $1.48 a share on revenue of $4.48 billion. Wall Street analysts surveyed by Bloomberg were expecting earnings of $1.42 on revenue of $4.6 billion. For the full year, Nordstrom said digital sales increased 16% versus a year ago, and made up 30% of total revenue. Read more at Business Insider.