Nordstrom Posts Earnings Increase, Narrows Forecast Friday, November 11, 11:44 AM ET
JWN) reported a gain in third quarter earnings late yesterday.
Profits at the upscale department store rose to $127 million, or $0.59 per share, from $119 million, or $0.53 per share, in last year's third quarter.
Revenue rose 14.2%, to $2.38 billion, on a 7.9% increase in same-store sales.
Earnings per share met analyst forecasts, although revenue fell short.
Nordstrom says it is now looking for same-store sales growth of 6% for the full year, compared to a prior forecast of 4% to 6% growth.
The company also honed its earnings per share forecast, to $3.05 to $3.10 per share, up $0.10 per share on the low end.
High-end department store rival Saks (
SKS) is due to report earnings next week, while Macy's (NYSE: M) reported earnings this week that beat analyst estimates.
For MarketNewsVideo.com, I'm Sayoko Murase.
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Nordstrom Posts Earnings Increase, Narrows Forecast
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