Shoppers enter the Nordstrom store April 1, 2003 on Michigan Avenue in Chicago.
Scott Olson | Getty Images
Check out the companies making headlines after the bell:
Shares of Nordstrom tanked more than 9% in extended trading after the department store reported first-quarter results that missed on the top and bottom lines. Nordstrom reported earnings of 23 cents per share on revenue of $3.44 billion. Wall Street had expected earnings of 43 cents per share on revenue of $3.58 billion, according to Refinitiv consensus estimates.
Nordstrom also gave disappointing guidance, lowering its full-year earnings guidance to $3.25 per share from an earlier projection of $3.73 per share. The company now projects that its current fiscal year revenue will fall 2%, compared with a previously stated estimate that revenue would rise 3.3%.
Pure Storage stock plummeted more than 18% after the computer data storage company reported first-quarter results that disappointed investors. Pure Storage reported a loss of 11 cents per share and revenue of $327 million. Analysts surveyed by Refinitiv had expected a loss of 8 cents per share and revenue of $333 million. The company also gave revenue guidance for the current fiscal year that was slightly below estimates.
Shares of Lions Gate rose as much as 3% after CNBC reported that the company is still interested in selling Starz to CBS. Lions Gate rejected CBS’s preliminary $5 billion offer to buy the channel, sources told CNBC.
Shares of Urban Outfitters dropped more than 5%, despite first-quarter earnings that beat expectations. The company reported earnings of 31 cents per share, 6 cents higher than expected, and revenue of $864 million, $10 million higher than expected. Urban Outfitters also reported a 1% rise in comparable sales, while analysts surveyed by FactSet had projected a 1.1% drop.
Toll Brothers stock seesawed after the home construction company reported better-than-expected second-quarter results. The stock rose as much as 2% and fell as much as 3% after the report. The company reported earnings of 87 cents per share and revenue of $1.71 billion, while analysts had projected earnings of 75 cents per share and revenue of $1.54 billion, according to Refinitiv consensus estimates.
Shares of PVH jumped more than 3% after the clothing company, which owns brands including Tommy Hilfiger and Calvin Klein, named Stefan Larsson as its president — a newly created position — effective June 3. The former CEO of Ralph Lauren will be in charge of managing the branded business and regions. He will report directly to Emanuel Chirico, PVH’s chairman and CEO.