SEATTLE — Nordstrom Inc. (JWN) on Thursday reported fiscal first-quarter net income of $128 million.
The Seattle-based company said it had profit of 66 cents per share.
The results did not meet Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The department store operator posted revenue of $3.22 billion in the period, which beat Street forecasts. Ten analysts surveyed by Zacks expected $3.15 billion.
Nordstrom expects full-year earnings to be $3.65 to $3.80 per share.
Nordstrom shares have fallen 6.5 percent since the beginning of the year, while the Standard &Poor’s 500 index has risen 3 percent. In the final minutes of trading on Thursday, shares hit $74.22, a climb of 20 percent in the last 12 months.
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