Nordstrom's 3rd-quarter profit rises 15 percent
NEW YORK (AP) — Nordstrom Inc. is reporting a 15 percent increase in third-quarter net income, fueled by strong demand of men's shoes, men's clothing and children's fashions.
The upscale department store chain says Thursday that it earned $146 million, or 71 cents per share for the three-month period ended Oct. 27. That compares with $127 million, or 59 cents per share, in the year-ago period.
Revenue rose 14 percent to $2.81 billion, up from $2.47 billion in the year-ago period.
Analysts, on average, had expected 72 cents per share on revenue of $2.75 billion, according to FactSet.
Nordstrom, based in Seattle, is raising its profit and sales outlook for the year.