News Summary: Nordstrom’s 3Q profit up 15 pct.
Posted at: 11/08/2012 7:05 PM
By The Associated Press
NAKING MORE: The upscale department store chain 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, A year ago. Revenue rose 14 percent to $2.81 billion.
PROFITING LESS: Nordstrom’s gross profit declined in the quarter as Nordstrom spent more on enhancing its loyalty fashion rewards program for customers.
BETTER DAYS? Nordstrom, based in Seattle, narrowed its full-year profit outlook to a range of $3.45 to $3.50 per share. That’s up from its guidance of $3.40 to $3.50 issued in August.
(Copyright 2012 by The Associated Press. All Rights Reserved.)