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Nordstrom meets expectations with flat profit, rising sales


Seattle -- Just two weeks after announcing its $350-million acquisition of men’s personalized clothing service Trunk Club, Nordstrom Inc. reported second-quarter earnings and sales in line with Wall Street projections.

Profit for the quarter was flat at $183 million, and sales climbed 6.2% to $3.3 billion, from $3.1 billion last year. Same-store sales rose a respectable 3.3%.

On July 31, Nordstrom announced that it entered into an agreement to acquire Trunk Club, a personalized clothing service for men, for $350 million, expanding the department store retailer’s reach into the coveted menswear market.

Nordstrom said it plans to open three full-line stores (The Woodlands, Texas; Calgary, Canada and Jacksonville, Florida) later this year. To date in fiscal 2014, the company opened 11 Nordstrom Rack stores and plans to open 16 additional stores during the remainder of the year. In second quarter 2014, the company opened a Nordstrom Rack store in Manhasset, New York.

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