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Nordstrom reported a gain in third quarter earnings late yesterday. Profits at the upscale department store chain rose to $127 million, or $0.59 per share, from $119 million, or $0.53 per share, in last year's third quarter. Revenue rose 14.2%, to $2.38 billion, on a 7.9% increase in same-store sales. Earnings per share met analyst forecasts, although revenue fell short.
Nordstrom
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) says it is now looking for same-store sales growth of 6% for the full year, compared to a prior forecast of 4% to 6% growth. The company also honed its earnings per share forecast, to $3.05 to $3.10 per share, up $0.10 per share on the low end. High-end department store rival Saks
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) is due to report earnings next week, while Macy's
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) reported earnings this week that beat analyst estimates.
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