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Feb 23, 2017

Nordstrom beats sales, income expectations with Q4 results

Nordstrom

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Nordstrom Inc reported a 2.4 per cent rise in quarterly sales as the apparel retailer's off-price stores attracted more customers, sending its shares up 3.6 per cent in extended trading on Thursday.

The company's net income rose to US$201 million, or US$1.15 per share, in the fourth quarter ended Jan. 28 from US$180 million, or US$1 per share, a year earlier.

Net sales increased to US$4.24 billion from US$4.14 billion.

The retailer came under fire from U.S. President Donald Trump this month for saying that it would stop selling his daughter Ivanka Trump's apparel, citing a drop in demand.