Nordstrom 4th-quarter net income rises
Nordstrom says its fourth-quarter net income rose 20 percent as high-end shoppers kept spending on clothing and makeup, and customers responded positively to its service improvements.
High-end spending has stayed strong despite the uncertain economy. Nordstrom has also improved customer service with free shipping offers and checkouts via mobile devices anywhere in the store.
The Seattle-based retailer says net income rose to $284 million, or $1.40 per share, from $236 million or $1.11 per share a year ago. That beat analysts' expectations of $1.35 per share.
Revenue rose 13 percent to $3.70 billion, which matched analysts' expectations.
Sales in stores open at least a year rose by 6.3 percent. Top performing categories included men's, women's and kids apparel as well as makeup.
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