Nordstrom, Inc. (JWN) shares are sliding on Wednesday morning trade in spite of the company reporting profit versus loss last year for the second quarter.
For the three-month period, the company reported earnings of $80 million or $0.49 per share, compared to loss of $255 million or $1.62 per share in the previous year.
Wall Street analysts were looking for earnings of $0.28 per share on revenue of $3.31 billion.
Net sales for the quarter increased to $3.565 billion from $1.778 billion in the previous month. The sales were, however, down 6 percent from the 2019 levels.
Currently, shares are at $31.11, down 17.72 percent from the previous close of $37.81 on a volume of 8,073,980. For the 52-week period, the shares have traded in a range of $11.72-$46.45 on average volume of 3,499,317.
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