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Nordstrom profit beats consensus by 27.4% in fiscal Q2

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Nordstrom profit beats consensus by 27.4% in fiscal Q2

Nordstrom Inc. said its normalized net income for the fiscal second quarter ended Aug. 1 was $1.15 per share, compared with the S&P Capital IQ consensus estimate of 90 cents per share.

EPS increased 19.4% year over year from 96 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $221.9 million, an increase of 19.9% from $185.0 million in the year-earlier period.

The normalized profit margin climbed to 5.8% from 5.5% in the year-earlier period.

Total revenue increased 9.1% on an annual basis to $3.70 billion from $3.39 billion, and total operating expenses rose 8.3% on an annual basis to $3.32 billion from $3.07 billion.

Reported net income grew 15.2% year over year to $210.9 million, or $1.09 per share, from $183.1 million, or 95 cents per share.