Nordstrom Down More Than 2% On Earnings (JWN)

Shares of Nordstrom, Inc. JWN are down more than 2% in after hours trading despite reporting better than expected earnings. The company reported fourth quarter earnings of $1.04 per share, versus Wall Street estimates of $1.00 per share. Revenues came in line at $2.82 billion. In fiscal 2011, Nordstrom plans to build from its strong financial framework to improve profitability, enhance free cash flow, increase return on invested capital and maintain a healthy balance sheet. For the 2011 fiscal year, Nordstrom expects same-store sales to increase 2 to 4 percent, which yields earnings per share in the range of $2.95 to $3.10 for the full year.