Retail stocks are on the move today and we’re diving into the recent news that has some of them falling and another rising on Wednesday!
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Let’s start off with Nordstrom (NYSE:JWN), which released its earnings report for the third quarter of 2021 after-hours Tuesday. That saw it bring in diluted earnings per share of 39 cents on revenue of $3.53 billion.
Unfortunately for JWN stock, those results are mixed next to Wall Street’s estimates. That includes expectations for diluted EPS of 56 cents and revenue of $3.5 billion. On the bright side, Nordstrom reaffirmed its 2021 outlook instead of lowering it.
The next company on our retail stocks falling list today is Gap (NYSE:GPS). Just like with JWN, GPS stock is falling Wednesday following the release of its earnings report for the third quarter of 2021.
That earnings report includes adjusted earnings per share of 27 cents on revenue of $3.9 billion. Both of those failed to reach analysts’ estimates of 50 cents per share on revenue of $4.44 billion.
Adding salt to the wound today is Gap lowering its outlook for 2021. With that comes adjusted EPS estimates of $1.25 to $1.40 for the year. That’s not looking good next to Wall Street’s estimate of $2.20 for the year.
As you could likely guess, GES did well today with adjusted per-share earnings of 62 cents and revenue of $643.1 million. These are both better than Wall Street’s estimates of 46 cents per share and revenue of $615.1 million.
JWN stock is down 27.9%, GPS stock is down 22.9%, and GES stock is up 14.6% as of Wednesday morning.
Investors seeking more stock market news today are in luck!
We’ve got all the latest stock coverage that traders need to know about for Wednesday! That includes recent Cardano (CCC:ADA-USD) news, Amp (CCC:AMP-USD) price predictions, as well as this morning’s biggest pre-market stock movers. You can find all of that at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.