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Nordstrom shares fall 25% after warning of profit woes

SHARE Nordstrom shares fall 25% after warning of profit woes

SEATTLE (Bloomberg) — Nordstrom Inc. shares fell as much as 25 percent after the retailer said that fiscal second-quarter earnings will miss forecasts and that it will take a charge for the declining value of an investment.

Profit in the quarter ending Monday will be 12 cents to 16 cents below the 55-cent average estimate of analysts polled by First Call/Thomson Financial. It blamed disappointing sales at its department stores and an increase in selling costs.