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MarketWatch MarketPulseMay 21, 2019
Nordstrom stock tanks after retailer posts Q1 sales miss
Shares of Nordstrom Inc. fell more than 9% in the extended session Tuesday after the retailer reported first-quarter sales below expectations and said it had "executional misses" with customers. Nordstrom said it earned $37 million, or 23 cents a share, in the quarter, compared with $87 million, or 51 cents a share, in the year-ago period. Revenue fell to $3.4 billion from $3.6 billion a year ago. Analysts polled by FactSet had expected earnings of 42 cents a share on sales of $3.6 billion. Nordstrom "began taking steps to drive improvement, which include: resolving executional issues associated with the launch of its enhanced loyalty program; further investing in its digital marketing; and re-balancing its merchandise assortment to better align with customer expectations," it said in a statement. Nordstrom stock ended the regular session up 1%.

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