Nordstrom, Inc. Falls on Decreased Guidance (JWN)

Shares of Nordstrom, Inc.

are trading lower in the after-hours following the release of its Q1 earnings results. Currently, shares are off by 2.73%, trading at $47.83. They closed the regular session higher by 0.97%, at $49.17. Nordstrom, Inc. reported Q1 EPS of $0.65 on revenues of $2.23 billion. Q1 same store sale increased 6.5%. The company cut its FY 2011 EPS to $2.80-2.95, from $2.95-3.10; it also sees FY 2011 same store sales up 2-4%. Nordstrom, Inc. is a fashion specialty retailer. As of March 19, 2010, the company operated 187 stores located in 28 states in the United States. The company operates in four segments: Retail Stores, Direct, Credit and Other. The Retail Stores segment includes its 112 Nordstrom full-line stores, 72 off-price Nordstrom Rack stores, two Jeffrey boutiques, and one clearance store that operates under the name Last Chance.