Friday, May 18, 2018

Nordstrom shares fall despite higher than expected quarterly profit

The Seattle Times
Nordstrom, putting its namesake family’s unsuccessful take-private effort in the rear-view mirror, reported a first-quarter profit that surpassed the expectations of Wall Street analysts. But other details in the Seattle retailer’s report prompted a 7 percent dip in its stock price after the earnings news.

The Seattle-based retailer remains under scrutiny as it invests in an ongoing digital transformation and expansions in New York City and Canada, all while trying to expand profit margins after five consecutive years of shrinkage.. . . more