(Reuters) – Nordstrom Inc (N:) forecast 2020 profit largely below market expectations on Tuesday, after the upscale apparel retailer missed estimates for fourth-quarter revenue, sending its shares down more than 8% in after-market trading.
The Seattle-based company expects to earn $3.25 to $3.50 per share in fiscal 2020, compared with analysts’ estimates of $3.49 per share, according to IBES data from Refinitiv.
Total revenue rose to $4.54 billion from $4.48 billion in the fourth quarter ended Feb. 1, falling short of estimates of $4.56 billion.
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