Nordstrom Walloped After Mixed Q1 Report

Nordstrom, Inc. JWN shares are trading lower by $4.10 (7.5 percent) at $42.11 in Friday's session.

After Thursday's close, the company reported a mixed Q1 that revealed an EPS beat of a dime, but shy on revenues by $70 million. The company provided FY 2017 guidance that surround current estimates of $2.92.

At this time, the Street seems to more focused on the revenue shortfall than the EPS beat.

See Also: Nordstrom Rack A Demonstration Of Retail's Perseverance Amid Department Store Chaos

After a much lower open, Nordstrom's stock managed only a 2-cent bounce to $43.59, before continuing its move lower. So far, the ensuing decline has taken the issue to $41.52 and rebounded back into the $42.00 handle.

The current low comes in just above its March 27 low of $41.39. If that level is breached there may be additional support at its August 4, 2016 low of $41.10.