Nordstrom Q2 Profit Rises, But Cuts FY Outlook

(RTTNews) - Nordstrom Inc. (JWN) Thursday reported second-quarter net earnings of $184 million or $0.93 per share, up from $156 million or $0.75 per share last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew to $3.20 billion from $3.01 billion last year. Analysts estimated revenues of $3.29 billion for the quarter.

Total company same-store sales for the second quarter increased 4.4 percent on top of last year's same-store sales increase of 4.5 percent.

The company lowered its full year 2013 financial guidance and now expects earnings of $3.60 to $3.70 per share and revenue growth of 3 to 4 percent. Analysts currently estimate earnings of $3.78 per share and revenue growth of 5.30 percent.

Previously, the company expected earnings of $3.65 to $3.80 per share and revenue growth of 4 to 6 percent.

The company also trimmed its full-year same-store sales expectations to a range of 2 to 3 percent from its prior outlook of 3 to 5 percent.