Nordstrom Inc.’s stock surged 6.7% to a three-month high in active midday trade Thursday, as Macy’s Inc.’s blowout earnings report fueled hopes that Nordstrom will report upbeat results after the close, for a change. Volume of 5.6 million shares was already well above the full-day average of about 3.3 million shares. Macy’s stock rocketed 16% after the fellow higher-end department store chain beat fiscal second-quarter earnings, revenue and same-store sales expectations, and said it would close 100 stores to focus on its more profitable stores and digital sales. that may have emboldened Nordstrom investors, who have suffered through earnings and revenue misses the past three quarters. The stock had plunged by an average of 12% on the day after the past three quarterly reports. Nordtrom is expected to report quarterly earnings per share of 56 cents, revenue of $3.68 billion and a same-store sales decline of 3.1%. The stock was still down 5.4% year to date, while the SPDR S&P Retail ETF has tacked on 4.1%, the S&P 500 has gained 7% and Macy’s shares have climbed 14%.
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