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Why Nordstrom Stock Popped Today

TheMotleyFool 
0 0 01.06.23
Why Nordstrom Stock Popped TodayPhoto, wide shot, wide-angle lens, Online marketplace, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/27d484d8-d1b1-4519-9797-b5dcaa68d4e2.png
 

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.

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Source Fool.com

Nordstrom Inc. Stock

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