Nordstrom Shows Decline In Q1 Profit, But Beats Analyst's Estimates

Traders in the retail space are responding to first-quarter figures out of Nordstrom

Thursday afternoon. In the post-market session, Nordstrom shares are up more than nine percent to around $67.25. Nordstrom posted total net sales of $2.8 billion for the first-quarter of 2014, an increase of nearly eight percent from the same quarter in 2013 when the company posted sales of $2.6 billion. This was $500 million below the analysts' average expectation of $2.86 billion. EPS was $0.72/share, a decrease from last year's EPS of $0.73/share. The first-quarter EPS beat analysts' expectations of $0.68/share by $0.04/share. Nordstrom management assures that the firm can monetize receivables and maintain customer control.