Nordstrom's 2Q profits up 20 percent
Thursday, August 11, 2011
NEW YORK (AP) -- Nordstrom Inc. is reporting a 20 percent increase in profits for the second quarter as its wealthy shoppers have gone back to spending. The company also boosted its full-year profit outlook.
The department store chain says it earned $175 million, or 80 cents per share, in the three-month period ended July 30. That compares with $146 million, or 66 cents per share, in the year-ago period.
Revenue rose 12.4 percent to $2.72 billion. Analysts had expected 74 cents on revenue of $2.72 billion.