Seattle Nordstrom's second-quarter profit jumped nearly 39% as shoppers flocked to its sales. The company maintained its full-year outlook.
Nordstrom earned $146 million for the quarter that ended July 31, up from $105 million in the year-ago period.
The company's revenue rose nearly 13% to $2.5 billion as both sales and credit card revenue rose. Same-store sales rose 8.4%. Nordstrom, which operates its upscale department store chain and discounter Nordstrom Rack, credited the growth to sales momentum and three special sale events.
Interestingly, shoppers appeared to favor its traditional stores and shied away from Nordstrom Rack during the quarter. Same-store sales grew 9.9% at Nordstrom stores but fell nearly 1% at Nordstrom Rack.
Blake Nordstrom, the company's president, said Nordstrom is well-positioned for the second half of the year and continues to see improvement in both revenue and profit.