SEATTLE (AP) — Upscale retailer Nordstrom Inc. reported that its net income rose 25 percent as its revenue improved.
The Seattle-based company said it earned $145 million, or 65 cents per share, for the quarter that ended April 30. That’s up from $116 million, or 52 cents per share, in the same quarter last year.
Excluding a charge related to its acquisition of private-sale website HauteLook, the company earned 69 cents per share — beating analyst expectations for 66 cents per share.
Nordstrom’s revenue increased 12 percent to $2.23 billion, meeting expectations.
Like many luxury stores, Nordstrom has seen sales rebound as affluent customers go back to spending.
Shares of the company rose 47 cents to close at $49.17 and fell $1.07 after hours.
