Nordstrom Q3 revenues rise 3 percent

American fashion retailer Nordstrom said on Thursday its Q3 revenue for 2018 increased by 3 percent. Net earnings for the quarter slid to 67 million US Dollars from 114 million US Dollars for the same quarter last year.

The company’s sales in Q3 2018 were 3,648 million US dollars, up from 3,541 million US dollars a year earlier. The profit margin of the company declined to 1.8 percent compared to 3.2 percent a year ago.

Raising its full year outlook, Nordstrom said in a statement that the company now expects net sales growth to range between 15.5 to 15.6 billion dollars, comparable sales to rise around 2 percent, earnings per diluted share 3.27 US Dollars to 3.37 US Dollars and Earnings per diluted share (excluding the impact of non-recurring estimated credit-related charge and any future share repurchases) between 3.55 US Dollars to 3.65 US Dollars.

Nordstrom Inc was founded in 1901 by John W. Nordstrom, Carl F. Wallin and is based in Seattle, USA. Founded as a shoe store in 1901, Nordstrom is a leading American fashion retailer operating through Nordstrom Rack stores; Jeffrey boutiques; clearance stores; Trunk Club clubhouses and its Nordstrom Local service concept.

Offering men's and women's fashion clothing, the Nasdaq-listed company operates more than 370 stores.

For more recent news on the business, collections and executive changes of Nordstrom Inc, click here.

Picture:Nordstrom press room

 

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