Nordstrom (JWN) 1Q17 Results: Comps Negative, but Better than Peers’

Executive Summary

• Nordstrom reported 1Q17 EPS of $0.37, up 42.3% from $0.26 in the year-ago period.
• Comparable store sales decreased by 0.8% year over year, missing the consensus estimate of (0.1)%. Online sales were up 11% at Nordstrom.com and up 19% at NordstromRack.com/HauteLook.com.
• The company maintained its FY17 outlook for EPS of $2.75–$3.00. For the full year, the company expects total sales to be up 3%–4% and comps to be flat.