Nordstrom (JWN) Shares Are Flying Higher After This

Shares of Nordstrom soared higher this week after the retail chain posted its Q2 earnings results for 2016.

The company posted earnings of $0.67 per share and revenue of $3.65 billion.

Earnings per share beat the Zacks Consensus Estimates of $0.55 while revenue came in line with what was anticipated.

“Over the past several quarters, our team has been actively addressing our inventory, expense and capital, and in the second quarter, made substantial progress by bringing down inventory in-line with sales,” said Blake Nordstrom, co-president of Nordstrom, Inc.

“Those efforts, along with the strength of our Anniversary Sale and a great response from customers to that event, drove better than expected results for the second quarter.”

In after hours triday shortly after the report was releaed, JWN shares climbed 12% to $53.27.

Nordstrom, Inc. is a fashion specialty retailer, with stores located in a number of states, including full-line stores, Nordstrom Racks, Faconnable boutiques, and free-standing shoe stores.

Disclaimer: We have no position in Nordstrom Inc. (NYSE: JWN) and have not been compensated for this article.