Nordstrom Q2 profit in line with expectations, raises full-year view

Seattle Nordstrom said Thursday its second-quarter profit fell 27%, matching analyst expectations, as the company cut costs. The company raised its full-year outlook.

Second-quarter profit fell to $105 million, from $143 million in the same period last year. That matched analysts’ expectations, according to a poll by Thomson Reuters.

Revenue fell 6% to $2.14 billion, from $2.29 billion last year. Analysts also predicted revenue of $2.14 billion.

Same-store sales slipped 12.3%. At the company's off-price division, Nordstrom Rack, same-store sales were up 0.8%

Dresses, fashion jewelry and kids shoes and apparel were the strongest sellers. The South and the mid-Atlantic regions were the best performers.

The company said better-than-expected sales during its anniversary sale and cost cutting helped beat its own expectations.