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. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Three Data Points We’re Watching This WeekUS CPG—Consumer Health: Understanding a Category Marked by Spin-OffsShoptalk 2024 “Shark Reef” Startup Pitch Competition: Preview—12 Innovators, Four Areas of Retail DisruptionUS Store Tracker Extra, August 2023: Retailers To Open 78 Million Square Feet of New Retail Space This Year