Nordstrom reported sales down by 9.2 percent to $1.71 billion...

Nordstrom reported sales down by 9.2 percent to $1.71 billion for the first quarter ended May 2 on a 13.2 percent drop in comparable-store sales. Net earnings dropped by 31.9 percent to $81 million, including a $12 million benefit – without it, earnings would have been $69.0 million. The gross profit margin was down by 2.15 percentage points. Revenues from Nordstrom Direct were flat. Dresses, junior women’s apparel and cosmetics were the company’s strongest-performing categories. Looking ahead, the company is revising its guidance as to earnings per share upward for the full year at the same time it expects a 10 percent to 15 percent drop in comparable store sales and a 1.3-2.0 percentage point decrease in the gross profit margin.