Nordstrom, Intuit rise, pending home sales and more: Wednesday's 5 things to know
TJM institutional director Jim Iuorio and Mayflower Advisors managing partner Lawrence Glazer provide insight on the Fed's response to inflation on 'Making Money.'Shares fell 13% in premarket trading after the company cut its annual revenue and profit forecasts, a sign that decades-high inflation was squeezing consumer spending on its high-end clothing and footwear.fiscal 2022 revenue to rise 5% to 7%, lower than its previous expectation of 6% to 8% growth.
The company forecast fiscal 2022 adjusted profit per share between $2.30 and $2.60, compared with $3.20 to $3.50 previously.Shares rose 7% in premarket trading as the furniture maker beat Wall Street revenue and profit estimates. increased 15% to $604 million, reflecting pricing and surcharge actions and the positive effects of product and channel mix. The analyst estimate was $524.78 million.
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