SEATTLE (AP) — Shares of Nordstrom gained ground in aftermarket trading Thursday after the department store chain’s second-quarter results were stronger than Wall Street expected.
The company said revenue from Nordstrom.com jumped 20 percent compared to a year ago and sales at Nordstrom Rack stores rose 13 percent. It said the opening of its first stores in Canada, its purchase of personalized men’s clothing service Trunk Club and the launch of the Nordstromrack.com e-commerce site and mobile app, all moves it made in 2014, assisted its growth.
Nordstrom also raised the lower end of its annual profit guidance, and its shares advanced $3.92, or 5.2 percent, to $78.84 in aftermarket trading.
Excluding non-recurring gains, the company said it earned 93 cents per share over the three months that ended Aug. 1. Revenue grew 9 percent to $3.7 billion.
Analysts expected net income of 90 cents per share on $3.65 billion in revenue, according to Zacks Investment Research.
The Seattle-based company said it expects to report full-year net income of $3.70 to $3.80 per share, excluding one-time items. It had expected $3.65 to $3.80 per share.
Nordstrom shares have dropped about 6 percent since the beginning of the year, closing at $74.92 on Thursday.
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