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The retailer’s shares, which have gained 17% so far this year, fell 4% in extended trading.
After struggling with falling sales for a year due to the pandemic, department stores have seen shoppers return in the last few months. Macy’s Inc (NYSE:M) and Kohl’s Corp (NYSE:KSS) both handily beat first-quarter sales estimates and raised full-year forecasts.
Nordstrom (NYSE:JWN), however, reiterated it full-year revenue forecast of an over 25% increase.
Total revenue rose to $3.01 billion in the first quarter ended May 1 from $2.12 billion a year earlier, beating analysts’ average estimate of $2.90 billion, according to Refinitiv Eikon data.
