RTTNews | Aug 25, 2021 10:29AM EDT

10:29 Wednesday, August 25, 2021 (RTTNews.com) - 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.

Read the original article on RTTNews ( https://www.rttnews.com/3221056/nordstrom-down-despite-reporting-better-quarterly-results.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved