Nordstrom’s top and bottom line met or exceeded Wall Street analysts’ expectations. But it saw weaker-than-expected same-store sales, especially in its full-line stores, which continued a streak of sales declines. Wall Street balks as American Airlines gives employees pay raises Nordstrom’s $3.35 billion sales for the quarter ended April 29 met Wall Street analysts’ expectations. And its earnings per share of 37 cents — or 43 cents excluding certain one-time items — handily beat Wall Street’s forecast of 27 cents. But the results were weighed down by the fact that comparable or same-store sales — a key metric that tracks sales growth at stores open at least a year — declined 0.8 percent overall. The company’s brick-and-mortar full-line U.S. stores fared worst, with a 6.4 percent drop, marking the seventh quarter in a row that Nordstrom’s full-line stores have shown year-over-year comparable sales declines. At Nordstrom Rack, the company’s off-price store, comparable sales decreased a smaller 0.9 percent. Still, Nordstrom executives had expected flat comp sales rather than a decline. “Up until now, Rack has been the engine of the Nordstrom business, helping the company to offset some of the deterioration of the full-price operation,” Carter Harrison, another analyst with GlobalData Retail, wrote in an email. “Today’s figures raise the question of how long this engine will continue to run.” The company’s online sales were more robust, with sales at Nordstrom.com up 10.9 percent, and those at Nordstromrack.com/HauteLook up 19.1 percent.
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