US: Designer, footwear drive Nordstrom Q2 profit hike
- Q2 net profit up 20% to US$175m
- Net sales up 12.4% to $2.72bn
- Nordstrom same store sales rise 7.9%
Retailer Nordstrom named footwear and designer wear among its best-performing categories as second quarter net income rose 20% on a double-digit sales increase.
Nordstrom net sales, including full-line and direct businesses, were up 8.8% in the three-month period, the US company said.
Meanwhile, Nordstrom Rack posted a net sales increase of 23.4%, with same store sales rising 4.8%.
Nordstrom is now predicting full-year same store sales up 4-6%, giving earnings per diluted share of $2.95-3.10.
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