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Nordstrom June revenue gauge jumps

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Associated Press
SEATTLE -- Department store chain Nordstrom Inc. said Thursday that its sales at stores open at least one year rose 8.1 percent in June, helped by strong sales of handbags, jewelry and shoes.
That's better than the 4.7 percent increase that analysts polled by Thomson Reuters were expecting.
Nordstrom shares rose 51 cents to $51.07 in morning trading. They are trading closer to the upper end of their 52-week range of $37.28 to $57.75.
Revenue at stores open at least a year is an important measure of a retailer's health because it's unaffected by sales at stores that recently opened or closed.
Total revenue for the five weeks ended June 30 rose nearly 13 percent to $1.04 billion.
For the fiscal year up to that point, sales at the company's stores open at least a year rose 7.8 percent from a year earlier and total sales increased 12.6 percent to $4.45 billion, Nordstrom said.
Nordstrom says sales were strongest in the South and Midwest.
Nordstrom operates 231 stores in 31 states.
Story tags » Department stores



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