Agenda-setting intelligence, analysis and advice for the global fashion community.
SEATTLE, United States — Nordstrom Inc., the largest U.S. luxury department-store chain, posted first-quarter sales that exceeded analysts' estimates after its Rack discount outlets and e-commerce orders helped boost results.
Revenue rose 9.7 percent to $3.22 billion last quarter, the Seattle-based company said in a statement Thursday. Analysts were predicting $3.17 billion in the period, which ended May 2. Though profit missed estimates last quarter, the company reaffirmed its 2015 forecast.
President Blake Nordstrom is using the company’s chain of outlets to attract more price-conscious shoppers, and he’s plowing more money into e-commerce. Nordstrom operates an online men’s clothing service called Trunk Club and the flash-sale site HauteLook. It also has invested in the Internet retailer Bonobos.
Nordstrom shares rose 1 percent to $74.87 in extended trading after the results were released. The stock had been down 6.6 percent this year through the close.
By Lindsey Rupp; editors: Nick Turner, James Callan.
