Nordstrom handily beat Wall Street's earnings estimates as its efforts to cut costs and boost efficienies begin to bear fruit.
Nordstrom now expects adjusted earnings per share to be between $1.75 and $2.05, compared to a previous range of $1.65 to $2.05. It anticipates sales will be in a range of a 1% decline to 1% growth from the prior year, compared to previous guidance of down 2% to up 1%.
During the quarter, Nordstrom's profits fell compared to the same period a year ago, but earnings grew over the last six months. Last year, Nordstrom reported a net loss of $67 million in the six months ended July 29, 2023, but in the same period this year, it posted a profit of $83 million.
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