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JWN Summary: The Retailer Plays Defense

By Gary Dvorchak

 About this article:
 To read Gary Dvorchak's preview of the J.W. Nordstrom earnings call, click here. J.W. Nordstrom is getting smacked in after-hours trading, down more than 5%, after surprising the Street with a penny earnings miss, coming in at 38 cents. (Revenue was in line at $1.87 billion, but that was preannounced earlier.) The reaction is rather harsh, considering that the company raised guidance for the remainder of the year, offering EPS of $1.83-$1.88 vs. the $1.81 Street number. That raise is on comps for the year expected to be down -6% to -7%. Management was not negative on the call, but neither could it offer evidence of a new robustness in the retail environment. In particular, the managers noted that they "do not see a material change with our customer, who still has confidence issues. If there is a compelling reason to shop (around fashion) they are responding." This...

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