Nordstrom Reports Q2 Earnings, Raises Fiscal 2014 Guidance

Shortly after Thursday's closing bell Nordstrom, Inc. JWN released its second quarter earnings report. The company posted revenue and sales inline with the consensus estimates at $3.9 billion and $0.95, respectively. In addition to its results, Nordstorm also announced that it will aquire Trunk Club for $350 million of Nordstrom stock, a portion of which is retention-based and subject to future vesting. The transaction also includes an long-term incentive plan of up to $100 million. The amount will be based on Trunk Club's performance. Going forward, Nordstrom increased its guided growth rate for net sales and comparable sales from 5.5 - 7.5 percent and 2 -4 percent to 6.5 -7.5 and 3 - 4 percent. Additionally, the company raised its diluted EPS guidance from $3.75 - $3.90 to $3.80 - $3.90.