“We sincerely apologize to these cardholders. We realize customers along with shareholders place a great deal of trust in us, along with which’s a responsibility we take seriously,” Nordstrom said on a conference call with analysts.
Without the charge, which knocked 28 cents a share off its earnings, Nordstrom would certainly have beat Wall Street forecasts by a penny. Analysts originally expected Nordstrom to earn 66 cents a share.
The department store chain, which reported its earnings after the markets closed Thursday, said This particular estimates which less than 4 percent of its cardholders would certainly be receiving a refund, with most receiving less than $100.
Shares of Nordstrom fell more than 11 percent in aftermarket trading.
Revenue rose 3 percent to $3.75 billion via a year ago, above expectations for $3.69 billion in sales.
Sales at stores open for at least a year were up 2.3 percent overall, above Wall Street expectations for an increase of 2.2 percent.
Shares of Nordstrom have surged 51 percent over the past 12 months, hitting a fresh 52-week intraday high of $67.75 on Nov. 6.