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Nordstrom meets expectations with flat profit, rising sales
Seattle -- Just two weeks after announcing its $350-million acquisition of men’s personalized clothing service Trunk Club, Nordstrom Inc. reported second-quarter earnings and sales in line with Wall Street projections.
Profit for the quarter was flat at $183 million, and sales climbed 6.2% to $3.3 billion, from $3.1 billion last year. Same-store sales rose a respectable 3.3%.
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No surprises for Nordstrom in second quarter
Nordstrom’s second quarter earnings were in line with its expectations. The results come two weeks after the company said it was acquiring Trunk Club, a men’s personalized clothing service, for $350 million.
Profit for the quarter remained flat compared to last year’s second quarter at $183 million. Net sales for the quarter were $3.3 billion, a 6.2% increase from $3.1 billion in the prior-year quarter. Comparable sales increased 3.3%.