Nordstrom Q2 profit soars 20%
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.
Body Shop parent posts 128% profit growth in Q2
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%.
Ingles Markets Q3 profit up 11%
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%.