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Nordstrom beats 2Q profit forecasts

August 12, 2016

SEATTLE (AP) — Nordstrom Inc. (JWN) on Thursday reported fiscal second-quarter earnings of $117 million.

The Seattle-based company said it had net income of 67 cents per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The department store operator posted revenue of $3.65 billion in the period, meeting Street forecasts.

Nordstrom expects full-year earnings in the range of $2.60 to $2.75 per share.

Nordstrom shares have dropped nearly 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 7 percent. Its shares closed Thursday at $47.56, a decrease of 38 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JWN at http://www.zacks.com/ap/JWN

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Keywords: Nordstrom, Earnings Report

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