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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 tempered its full-year profit forecast to reflect the impact of its recent acquisition of Trunk Club, a personalized clothing service for men. It lifted its revenue forecast to a 7.5% increase for the year, versus prior guidance of a 6.5 to 7.5% rise.

During the third quarter, Nordstrom opened three full-line stores, including its first store in Canada, and 16 Nordstrom Rack stores.

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