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Nordstrom profit soars 43% in Q3
Seattle -- Nordstrom said its third-quarter profit rose a more-than-expected 43% to $119 million on improved sales and margin improvements. The company raised the low end of its fiscal year profit forecast.
Revenues rose to $2.18 billion from $1.96 billion. Same-store sales increased 5.8%.
Best-selling items were jewelry, shoes and dresses.
"Our customers are highly receptive to newness and fashion in spite of the soft economic climate," company president Blake Nordstrom said in a conference call with analysts.
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Sales and profits up at TJX
Framingham, Mass. -- The TJX Cos.' fiscal third-quarter earnings rose 7%, topping its own forecasts, as the discount retailer's sales improved.
The company reported a better-than-expected profit of $372.3 million, up from $347.8 million in the year-ago period. Net sales rose 5% to $5.53 billion, from $5.24 billion. Same-store sales increased 1%.