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Nordstrom mixed in Q1
Nordstrom beat the Street on earnings in its first quarter amid strong sales in its off-price division. Nordstrom said it earned $63 million in the first quarter, compared with $46 million, in the year-ago period. The company earned an adjusted $0.43 a share, beating the $0.27 that analysts were expecting. Total company net sales increased 2.7% to $3.3 billion. Same-store sales fell 0.8%, worse than expected. Online sales accounted for 24% of total net sales.