According to China's top economic planning body, some local companies are cutting back on their efforts to hire new university graduates.China Economyread more
Airbus recorded orders and options for 123 planes, according to the aviation consulting firm IBA.iQ.Paris Air Showread more
Markets in Asia were mostly higher in Tuesday trade as investors awaited the start of a closely-watched meeting by the U.S. Federal Reserve, set to kick off later stateside.Asia Marketsread more
Wall Street analysts think Facebook's cryptocurrency payments project will give the company a big boost.Marketsread more
Chinese President Xi Jinping will travel to North Korea this week for a two-day visit, ahead of a possible meeting between Xi and President Donald Trump at next week's G-20...Politicsread more
The Pentagon said that the crew of one of the tankers, the Japanese Kokuka Courageous, found an unexploded limpet mine on its hull following an initial explosion.Politicsread more
Despite the popularity of companies like Beyond Meat and Impossible Foods, meat consumption around the world continues to rise.Food & Beverageread more
Electronic material that Infowars host Alex Jones turned over to families of Sandy Hook Elementary School shooting victims who are suing him contained images of child...Politicsread more
Facebook's reported move into cryptocurrency could amount to the biggest catalyst for digital assets in their decade-long history, some crypto investors say.Bitcoinread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
Eleven banks that lend to shipping lines announced Monday that climate impact will be integrated into the criteria that determines how much shipping companies can borrow, an...Transportationread more
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.)