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Nordstrom boosts profit, revenue 3Q
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%. -
Nordstrom rolls on, loyalty expands
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.
