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Nordstrom Q1 income surges 25%; rolling out mobile checkout devices
Seattle -- Nordstrom reported Thursday that its first-quarter net income rose 25% on improved revenue. But the company lowered its full-year outlook to reflect the impact of its acquisition of private-sale website HauteLook.
Nordstrom said it earned $145 million for the quarter that ended April 30, up from $116 million in the same quarter last year. (The figure includes a charge related to the HauteLook acquisition.) Revenue increased 12% to $2.23 billion. Same-store sales were up 6.5%.
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Cole Real Estate selects Grubb & Ellis to lease Whittwood Town Center
Newport Beach, Calif. -- Grubb & Ellis Co. said that Cole Real Estate Investments has selected members of the company’s Retail Group to lease Whittwood Town Center, a 686,211-sq.-ft. shopping center in Whittier, Calif.
Whittwood Town Center is approximately 97% leased, with national tenants including J.C. Penney, Target, Vons, Kohl’s, PetSmart, 24 Hour Fitness and Panera Bread.