Nordstrom 3rd-Quarter Results Posted

Published by: Kelly Curtis on 16th Nov 2010 | View all blogs by Kelly Curtis
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Nordstrom 3rd-Quarter Results Posted

The upscale department store Nordstrom Inc. announced third-quarter results on Monday, posting a 43 percent increase in net income thanks to price hikes and effective inventory controls.

The Seattle, Washington-based company also increased its earnings outlook, though not quite as high as analysts had forecast.  Shares of the company fell 25 cents in aftermarket trading to open Tuesday's session at $41.58, after gaining 43 cents per share during Monday's session.

The retailer reported earnings for the quarter of $119 million, or 53 cents per share, compared with earnings of $83 million, 38 cents per share, for the same period in 2009.  Nordstrom also reported and increase in revenue from $1.96 billion to $2.18 billion, as its customers picked up spending from a year ago.

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