UPDATE 1-Nordstrom raises profit, sales outlook
* Q2 EPS $0.80 vs year-ago $0.66
* Now sees FY 2011 EPS $2.95-$3.10 vs $3.05 Street View
* Now sees FY 2011 comp sales up 4 pct-6 pct
* Shares up 3.6 percent in after-hours trading
NEW YORK, Aug 11 (Reuters) - Upscale retailer Nordstrom Inc (JWN.N) raised its full-year profit and same-store sales outlook, and reported a higher-than-expected quarterly profit that was helped by more full-price selling.
Its shares rose nearly 4 percent in after-hours trading.
Nordstrom said it now expects fiscal 2011 earnings per share of between $2.95 and $3.10, compared with an earlier range of $2.80 to $2.95. That compares with $3.05 expected on average by Wall Street analysts, according to Thomson Reuters I/B/E/S.
The department store chain said it now expects fiscal 2011 sales at stores open at least one year to rise 4 percent to 6 percent, up from an earlier range of 2 percent to 4 percent.
Nordstrom's net income for the quarter, ended on July 30, rose 19.9 percent to to $175 million, or 80 cents per share. That beat Wall Street expectations of 74 cents per share.
As previously reported, total retail sales were up 12.4 percent to $2.72 billion, while sales at stores open at least one year increased 7.3 percent.
Shares were up $1.52 to $43.85 in after-hours trading. (Reporting by Phil Wahba; Editing by Steve Orlofsky)
- Man called Bitcoin's father denies ties, leads LA car chase
- Ukraine standoff intensifies, Russia says sanctions will 'boomerang' |
- Florida mayor fights backyard gun ranges in 'Gunshine State'
- Malaysia Airlines says lost contact with plane carrying 239 people
- Apple loses bid for U.S. ban on Samsung smartphone sales