FINANCE

Nordstrom Q2 profit soars 20%

BY Staff Writer

Seattle — Nordstrom reported Thursday that net income for its second quarter rose 20% to $175 million, compared with $146 million in the year earlier period.

Revenue surged 12.4% to $2.72 billion, benefited by strong promotions and matching Wall Street estimates. Same-store sales rose a solid 7.3%. The department store retailer has raised its profit outlook for the full year.

Its outlet concept Nordstrom Rack saw net sales increase 23.4% to $92 million, and same-store sales rose 4.8%.

"We’re mindful of the economic challenges facing all of us," said Blake Nordstrom, president, during a conference call. "However, we know from previous experiences that our customers remain receptive when we’re able to evolve with them and provide a compelling reason to buy something new."

During the quarter, Nordstrom opened three Nordstrom Rack stores, located in Cherry Hill, N.J., in Washington, D.C., and in Annapolis, Md.

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FINANCE

Body Shop parent posts 128% profit growth in Q2

BY Staff Writer

Jacksonville, Fla. — Body Central Corp., operator of the Body Central and Body Shop retail chains, reported Friday that net income for the second quarter was $5.3 million, compared with $2.3 million in the year-ago period.

Net revenues increased 22.1% to $74.7 million, compared with $61.2 million for second quarter 2010. Same-store sales increased 14.7%.

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FINANCE

Ingles Markets Q3 profit up 11%

BY Staff Writer

Asheville, N.C. — Ingles Markets reported Friday that profit for the quarter ended June 25 rose 11% to $12.7 million, compared with $11.4 million in the year earlier period.

Revenue increased 6% to $911 million from $856.1 million. Same-store sales, excluding fuel, rose 2%.

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