Nordstrom reiterates annual guidance after Q2 results top estimates

Investing.com - Nordstrom reiterated its full-year guidance after reporting Thursday second-quarter results that topped analysts' expectations.

Nordstrom Inc (NYSE: JWN) was down 5% in after-hours trade following the report.

The clothing retailer reported an adjusted EPS of $0.81 on revenue of $3.77 billion. Analysts polled by Investing.com forecast EPS of $0.45 on revenue of $3.68B.

Sales, however, suffered a 275 basis point hit from the wind-down of Canadian operations and a fall in online sales.

Online sales fell 12.9% in Q2 from the same period a year earlier, as the elimination of store fulfillment for Nordstrom Rack digital orders during the third quarter of fiscal 2022 and the closing down of Trunk Club "negatively impacted second quarter digital sales by approximately 500 basis points," the company said.

Ending inventory fell 17.5% compared with the same period in fiscal 2022, the company said.

Looking ahead, Nordstrom reiterated expectations for revenue to fall between 4% to 6% and guided adjusted EPS in a range of $1.80 and $2.20 for the fiscal year.

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