Nordstrom and Kingold Jewelry Shares Soar Higher after First Quarter Results
Nordstrom Inc. (NYSE: JWN) has reported a strong first quarter announcing that it has earned 72 cents per share on revenue of $2.93 billion for the period. This exceeded the 68 cents and $2.86 billion that analysts polled by FactSet were anticipating. The company said that it benefited from improved sales and it stood by its full-year forecast.
Nordstrom, Inc., a fashion specialty retailer, offers apparel, shoes, cosmetics, and accessories for women, men, and children in the United States. It operates in two segments, Retail and Credit. The Retail segment offers a selection of brand name and private label merchandise. This segment sells its products through various channels; online private sale subsidiary, HauteLook, Inc, as well as online store, Nordstrom.com; and catalog sale. As of April 24, 2014, this segment operated 267 stores, including 117 full-line stores, 147 Nordstrom Racks, 2 Jeffrey boutiques, and 1 clearance store in 36 states.
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Kingold Jewelry, Inc. (NASDAQ: KGJI) delivered its first-quarter results. Over the three months to March, Kingold Jewelry earned 24 cents a share, compared to 5 cents a share in the year-ago quarter. Revenue spiked 38.9% year over year to $307.5 million.
Kingold Jewelry, Inc. designs, manufactures, and sells gold jewelry, ornaments, and investment-oriented products in the Peoples Republic of China. It provides a range of gold products, including gold necklaces, rings, earrings, bracelets, pendants, and gold bars.
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