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Nordstrom reported fourth quarter earnings on Thursday that fell short of earnings expectations at a time the company is looking to raise financing for its management buyout.
The retailer reported adjusted earnings per share of $1.20, below the $1.24 expected by Thomson Reuters. Shares tumbled nearly 4 percent on the news.
Nordstrom is among a list of retailers, including Macy's, J.C. Penney and Kohl's, which reported strong sales this holiday season, boosted by increased spending and greater consumer confidence. But investors have been waiting to see if those riches made their way to the bottom line.
Nordstrom reported net earnings for the quarter of $151 million, down from $201 million the same quarter the year prior. That is despite booking revenue of $4.70 billion, above the $4.62 billion expected.
It attributed its weaker earnings to pre-opening costs associated with men's flagship in New York, as well as other Nordstrom Racks.
For the year, Nordstrom booked record sales of $15.1 billion, a 4.4 percent jump over the year prior.
Here's how Nordstrom did compared with what Wall Street expected:
Nordstrom's sales growth for the quarter was driven largely by its e-commerce business. Financing sources have told CNBC its online performance is important in considering its take-private efforts.
Comparable online sales at Nordstrom.com jumped 12.4 percent, and at NordstromRack.com and HauteLook they jumped 23.7 percent. By contrast, at its full-line stores, they declined 1.7 percent, and at Nordstrom Rack they dropped .9 percent.
(Correction: An earlier version of this story misstated the Thomson Reuters estimates.)