E-commerce growth and the company’s annual anniversary sale gave Nordstrom a second quarter lift.
For the second quarter ended July 29, Nordstrom posted net earnings of $110 million, or 65 cents per diluted share, versus $117 million, or 67 cents per diluted share, in the year-prior period. Nordstrom topped a MarketBeat published analyst average estimate for the quarter of 62 cents per diluted share.
Company net sales increased 3.5% to $3.72 billion versus the year-previous quarter as comparable sales increased 1.7% versus the year-earlier period.
Comp sales decreased 4.4% at Nordstrom full-line department stores and 1% at Nordstrom Rack in the quarter year over year. However, they increased 19.8% at Nordstrom.com and 26.7% at Nordstromrack.com/HauteLook versus the 2016 period.
In the quarter, Nordstrom noted, its anniversary sale, historically its largest promotion of the year, performed better compared with recent selling trends. Top-performing merchandise categories in the quarter were women’s apparel and beauty, while the East was the top-performing geographic region in the U.S.
