Finance & Capital Management

Seattle -- Finally some good news in the department store sector.

Nordstrom Inc. on Thursday reported better-than-expected fiscal second-quarter earnings and sales.

The retailer reported net profit of $211 million, or $1.09 a share, for the quarter ending Aug. 1, up from $183 million, or 95 cents a share, in the year-ago period.

Nebraska-based sportings goods retailer Cabela’s has appointed the former CEO of Coors to its board.

The company announced that Peter S. Swinburn has been named to its board of directors.

PayPal has revised its disclosure practices for material information in a way that could serve as a blueprint for retailers in the wake of a major insider trading bust that took down 32 hackers and brokers who allegedly reaped $100 million during a five year scheme to steal press releases.

Jacksonville, Fla. -- Off-price retailer Stein Mart continues to pursue the accelerated store growth strategy that it began in 2014.

The off-price retailer announced it will open nine stores this fall, and at least 12 new locations in 2016.

The news follows the company's recent release of first half 2015 total sales growth of 6.1% and comparable store-sales growth of 4.0%.

New York -- It’s been a rough week for department stores.

Kohl’s Corp. joined Macy’s and Dillard’s this week in reporting disappointing earnings and weak same-store sales growth.

Kohl’s posted a profit of $130 million in the second quarter ended Aug. 1, down from $232 million in the prior-year quarter.

In a week in which many of the nation's major department stores reported disappointing financial results, Nordstrom showed once again how to drive sales growth.

The Washington-based retailer reported that total sales rose 9.2% from the same quarter in 2014, while same store sales rose 4.9%. The company posted a profit of $211 million, or $1.09 a share, compared with $183 million, or 95 cents a share, a year earlier. Revenue, which includes revenue from its credit cards, rose 9% to $3.7 billion. 

DSW's aggressive store expansion plan is still on track, as the retailer looks to tap growth in existing as well as new markets.

The footwear and accessories retailer says it is opening 22 stores this fall, including six locations in new markets.

"Expanding our store base allows us to grow our footprint in areas we already call home, while also bringing DSW stores and the DSW brand to areas where our customers have been anticipating our arrival,” said Carrie McDermott, executive VP and COO of DSW, which operated 449 stores in 42 states.

Kohl’s has joined other major retailers this week reporting disappointing earnings and anemic same store sales growth.

The Wisconsin-based retailer posted a profit of $130 million in the second quarter ended Aug. 1, below the $232 million in the prior-year quarter. Earnings per share were 66 cents, compared with $1.13 in the second quarter of 2014. Same store sales grew a measly 0.1%. Overall revenue increased by just 0.6%, to $4.27 billion for the quarter.