NEW YORK — Continuing to show momentum, Nordstrom on Tuesday posted first-quarter results that beat Wall Street expectations by 6 cents.
For the three months ended April 30, the Seattle-based retailer, reporting after the financial markets closed, said income jumped by 52 percent to $104.5 million, or 75 cents a diluted share. That compares to $68.7 million, or 48 cents, in the year-ago quarter. The consensus estimate from Wall Street analysts was 69 cents.
Sales gained 7.7 percent to $1.65 billion from $1.54 billion, while same-store sales rose 6.2 percent on top of the 14 percent comps gain a year ago.
Nordstrom also raised its prior earnings-per-share outlook for the fiscal year ending Jan. 28, 2006, to $3.40 to $3.50. Prior guidance was between $3.25 to $3.35. The retailer said that its new guidance represents a 20 to 25 percent increase over the prior year, excluding a lease adjustment from 2004 earnings per share.
For the second quarter, the company said it expects low single-digit same-store sales growth and EPS in the range of 85 cents to 90 cents.
