US: Men’s wear drives Nordstrom Q3 profit
- Q3 net profit up 15% to US$146m
- Net sales up 13.8% to $2.71bn
- Same store sales up 10.7%
Growth in men’s shoes, men’s apparel and children’s apparel helped clothing retailer Nordstrom to post double-digit increases in third quarter earnings and revenue.
Sales for the company’s full-line and direct businesses increased 11.5% in the three months to 27 October, with same store sales rising 11.2%.
Nordstrom said the Midwest and Northwest regions were its best performers geographically, while direct sales increased 38% in the period.
Meanwhile, Nordstrom Rack posted net sales up 16.3% and same store sales up 8.1%.
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