Nordstrom Shares Hit Six-Month High After Surprise Q3 Profit

Nordstrom Inc.  (JWN) – Get Report shares jumped to a six-month high Wednesday after it posted a surprise third quarter profit thanks to surge in online sales that partly offset an overall revenue slump for the brick-and-mortar retailer.

Nordstrom said profits for the three months ending in October were pegged at 34 cents per share, down 55.5% from the same period last year but well ahead of the Street consensus, which forecast a loss of 6 cents per share. Group revenues were down 16% to $3 billion, Nordstrom said, but more than half of that came from the group’s online channels, which rose 37% from last year. 

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