(Corrects in last paragraph the company's FY EPS forecast to
$3.75-$3.90, not $3.65 to $3.80 )
Feb 20 Nordstrom Inc on Thursday
reported a lower profit for the holiday quarter, hit by higher
markdowns, and the high-end retailer gave a full year profit
forecast that missed analyst expectations.
The upscale department store operator reported that
comparable sales rose 2.6 percent and overall revenue rose 0.4
percent to $3.7 billion.
Nordstrom, which also operates the Rack chain of low-priced
stores, said net income for the fiscal fourth quarter ended Feb.
1 fell to $268 million, or $1.37 a share, from $284 million, or
$1.40 per share a year earlier.
For the new fiscal year, Nordstrom forecast a profit of
$3.75 to $3.90 per share, below the $4.05 analysts were
expecting, according to Thomson Reuters I/B/E/S. The retailer
expects same-store sales to rise 2 to 4 percent.
(Reporting by Phil Wahba in New York; Editing by Phil