Nordstrom reports better-than-expected comparable sales

Nordstrom reports better-than-expected comparable sales

Nordstrom Inc reported better-than-expected quarterly same-store sales on Thursday as more people shopped at the apparel retailer's online stores, sending shares up 2.5 percent after the bell.

FILE PHOTO: The Nordstrom store is pictured in Broomfield, Colorado, February 23, 2017. REUTERS/Rick Wilking/File Photo

REUTERS: Nordstrom Inc reported better-than-expected quarterly same-store sales on Thursday as more people shopped at the apparel retailer's online stores, sending shares up 2.5 percent after the bell.

Nordstrom said net income fell to US$110 million, or 65 cents per share, from US$117 million, or 67 cents per share, a year earlier.

The upscale Seattle-based clothing and accessories retailer reported a 1.7 percent increase in same-store sales for the second quarter ended July 29, handily beating the 0.5 percent decline expected by research firm Consensus Metrix.

Nordstrom's net sales rose 3.5 percent to US$3.72 billion.

(Reporting by Richa Naidu in Chicago; Editing by Lisa Shumaker)

Source: Reuters

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