Nordstrom reported Tuesday better-than-expected first-quarter sales, as shoppers showed up to its stores again to buy new shoes, sunglasses and swimwear for social outings.
But its stock tumbled around 7% in extended trading as the retailer booked a wider-than-expected loss, and maintained its full-year outlook, despite other retail rivals boosting their forecasts in recent days.
Management said elevated labor and shipping costs, in addition to supply chain constraints in the apparel industry, are creating continued pressure on its business.
Here’s how Nordstrom did during the period ended May 1, compared with what analysts were anticipating, using Refinitiv data:
- Loss per share: $1.05 vs….