Nordstrom Shares Soar After Q2 Earnings Beat

Nordstrom, Inc. JWN shares are soaring after reporting a second-quarter earnings beat.

Adjusted earnings came in at 90 cents per share, beating estimates by 13 cents. Sales came in at $3.78 billion, missing estimates by $160 million.

The retailer narrowed 2019 EPS guidance from $3.25-$3.65 to $3.25-$3.50 compared to a $3.74 estimate.

"We delivered strong bottom-line results, demonstrating our inventory and expense discipline. We exited the quarter in a favorable inventory position and made important strides in productivity," said Co-President Erik Nordstrom.

"We're focused on driving our top-line, and while this can take time, we are confident in our ability to manage through cycles. We remain encouraged by our key initiatives, including our local market strategy, and are making good progress on key areas of focus that we believe will collectively drive increased value creation for our shareholders."

Highlights

• Inventory was down 6.5% year-over-year
• Full-Price et sales decreased 6.5% year-over-year
• Digital sales grew 4%

Nordstrom shares traded higher by 10% to $29.30 in Wednesday's after-hours session. The stock closed the regular session higher by 5.5% at $26.54.

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