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Nordstrom Confirms Sector Trend, Beats Earnings And Revenue Estimates

Nordstrom, Inc. JWN 7.53% released its Q2 results after market close on Thursday. Earnings per share came in above Wall Street consensus expectations

Nordstrom reported EPS of $0.67 and revenues of $3.592 billion. Analyst consensus had an EPS estimate of $0.56 and revenues of $3.68 billion.

Nordstrom saw FY16 EPS at $2.60-$2.75 vs. estimates of $2.57.

In the Nordstrom brand, including U.S. and Canada full-line stores and Nordstrom.com, net sales when combined with Trunk Club, decreased 0.4 percent and comparable sales decreased 2.3 percent.

"Over the past several quarters, our team has been actively addressing our inventory, expense and capital, and in the second quarter, made substantial progress by bringing down inventory in-line with sales," said Blake Nordstrom, co-president, Nordstrom. "Those efforts, along with the strength of our Anniversary Sale and a great response from customers to that event, drove better than expected results for the second quarter."

At time of writing, Nordstrom traded at $53.29 in Thursday's after-hours session, up 11 percent.

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