The high-end department store reaffirmed its full-year outlook and posted a surprise profit on an adjusted basis.
Brandon Bell | Getty Images's fiscal first-quarter sales topped Wall Street's expectations on Wednesday, even as the retailer reported a spending drop and predicted slower sales in the coming months.
Yet despite declining sales, Nordstrom stressed its progress with managing inventory, cutting costs and drawing shoppers, especially to the off-price brand Nordstrom Rack. Sales at Nordstrom Rack improved late in the quarter, with the strongest performance in April, the retailer said in a news release.
Excluding the costs related to winding down Canadian operations, Nordstrom's adjusted earnings per share were 7 cents. It was not immediately clear how those figures compared to analyst estimates.
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