Nordstrom's 4Q profits up 1.7 percent
Thursday, February 16, 2012
NEW YORK (AP) -- Upscale department store operator Nordstrom Inc. is reporting that its fourth-quarter profit rose 1.7 percent as its affluent shoppers continued to spend.
The company said late Thursday that it earned $236 million, or $1.11 per share, in the quarter that ended Jan. 28. That compares with $232 million, or $1.04 per share, a year earlier.
Sales, excluding credit card revenue, rose 12.5 percent to $3.17 billion from $2.82 billion.
Analysts expected $1.10 per share on revenue of $3.17 billion, according to FactSet.
The important retail metric of revenue at stores open at least a year climbed 7.1 percent.
The department store is based in Seattle.