Company Earnings Update 2 minutesRegister for Free AccessNordstrom (JWN) 1Q16 Results: Big Earnings Miss; FY16 Guidance Lowered to Reflect Softening Industry Dynamics Coresight Research May 12, 2016 Executive Summary Nordstrom announced 1Q16 diluted EPS of $0.26, far below the consensus estimate of $0.45. The disappointing results were driven by sales that were lower than planned and by higher markdowns intended to better align inventory positions with softening industry trends. Total revenues were $3.19 billion, slightly higher than in the same period a year ago but below consensus of $3.28 billion. Comps declined by 1.7%, versus consensus of a 0.2% increase. Management revised its FY16 same-store-sales growth forecast from 0%–2% to (1)%–1%. The company also lowered its EPS guidance, from $3.10–$3.35 to $2.50–$2.70. Lower retail EBIT compared with the year-ago quarter reflected increased markdowns and higher credit chargeback expenses in addition to planned fulfillment and technology costs supporting the company’s growth initiatives. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Market Navigator: US Grocery Retailing—Executive SummaryApril 2023 China Retail Sales: Total Sales Accelerate Further as Most Sectors Continue To See Strong GrowthInnovator Profile: Pi-xcels Eliminates Paper Receipts While Engaging Brick-and-Mortar ShoppersInnovator Profile: SegmentStream Solves the Conversion Attribution Challenge for Marketers