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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.

The company also suggested it was able to sell more merchandise at full price after working hard to bring inventory levels in line with demand.

Nordstrom operates 115 full-line stores, 86 Nordstrom Racks, two Jeffrey boutiques and one clearance store.

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