Nordstromreported earnings that missed analysts' expectations by a penny but beat on revenue, helped by better sales and higher merchandise margins, causing the company's shares to fall in after-hours trading.
The high-end retailer also raised its fiscal 2009 guidance to between $1.83 a share and $1.88 a share, up from a previous range of $1.50 to $1.65. But analysts questioned whether it could meet the earnings numbers after it said it expects same-store sales to be down 6 to 7 percent for its fiscal 2009.
Nordstrom said it earned 38 cents a share excluding one-time items in the third quarter, compared with 33 cents a share this time last year.
Sales for the most recent quarter reached $1.87 billion, up from $1.805 billion in the same period last year.
Analysts who follow the company projected Nordstrom earning 39 cents a share on a topline of $1.784 billion.