Nordstrom (JWN - Free Report) shares are falling off a cliff in late trading Tuesday, down 9+%, following a fiscal Q1 earnings report that was weaker-than-expected across the board: earnings of 23 cents per share was way down from the Zacks consensus estimate of 43 cents, and less than half of the year-ago quarter's 51 cents per share.
Revenues of $3.44 billion in the quarter was notably beneath the $3.54 billion expected. The company has also lowered fiscal year earnings guidance on what the company is calling expected "further deceleration" in its key businesses. Shares of JWN are now trading at 5-year lows.
This is in sharp contrast to Urban Outfitters' (URBN - Free Report) fiscal Q1 earnings results, which saw beats on both top and bottomlines: 31 cents per share versus the Zacks consensus 26 cents, with sales of $864 million easily topping the expected $857.3 million.
With the help of double-digit growth in its digital business and an unexpected boost from Anthropologie, URBN was able to post its seventh consecutive quarter of positive comps, up 1% for the quarter. Shares are trading up slightly, but still well off the highs we saw in early April.
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