Department Store

New stores, 3.9% same store sales growth and increased loyalty propelled Nordstrom to record third quarter sales.

The company’s total sales increased 8.9% to $3 billion thanks to the addition of new stores and a 3.9% same store sales increase that was driven by online growth. Profits increased 3.6% to $142 million compared to $137 million while earnings per share increased 5.8% to 73 cents from 69 cents.

Seattle -- Nordstrom has surpassed Wall Street estimates with an unexpected jump in profit and sales for the quarter ended Nov. 1.   The department store retailer reported a profit of $142 million for the third quarter, up from $137 million in the year-ago period.   Sales jumped 9% to $3.14 billion, beating the expected $3.11 billion in revenue. Same-store sales rose 3.9%.  

Mississauga, Ontario -- Canadian mall Square One has opened its newly renovated and expanded $60-million North side wing, featuring new stores and enhanced amenities and services in 78,000 sq. ft. The opening marks the completion of the second phase in Square One's multi-phase redevelopment, which will increase retail space to 2.1 million sq. ft. by 2016 and represents a total investment of more than $480 million.  

Little Rock, Ark. -- Dillard's Inc. reported Thursday a profit of $55.2 million in its fiscal third quarter, up 8.4% over the $50.9 million profit in the same period last year.   Sales, however, dipped to $1.460 billion, from $1.469 billion, and same-stores sales declined 1%.   Still, said CEO William T. Dillard II, "We believe we are positioned very well for the holiday season.”  

New York -- Entertainer Nick Jonas joined Lord & Taylor/Hudson’s Bay president Liz Rodbell for the unveiling of the department store’s annual holiday windows on NYC’s Fifth Avenue on Thursday, marking the 100th anniversary of the retailer’s holiday window program.  

Los Angeles -- BH Properties has announced the hire of Andrew Van Tuyle as chief acquisition officer. In this role, Van Tuyle will be responsible for the firm’s property and debt acquisitions throughout the Southwest.  

Washington, D.C. -- Canadian outdoor brand Arc'teryx will open its first East Coast location, and fourth in the U.S., in CityCenterDC, downtown Washington, D.C.'s new mixed-use development.   

Kohl’s is heading into the holidays with a loss of momentum after third quarter same store sales declined 1.8% and the company missed analysts’ earnings estimate by four cents.

The third quarter comp decrease of 1.8% was on top of a prior year decline of 1.6%. Total sales at the operator of 1,163 stores declined slightly to $4.37 billion from $4.44 billion. Net income declined to $142 million, or 70 cents a share, from $177 million, or 81 cents a share.