Nordstrom profit matches view, outlook unchanged

Nordstrom Inc (JWN.N) (JWN.N) reported a higher quarterly net profit that met Wall Street expectations, but the company did not raise its previously announced 2010 profit outlook and its shares fell 2.5 percent.

The upscale department store operator also lowered its 2010 expectations for credit card revenue for the full year.

Net income in Nordstrom's second quarter that ended July 31 was $146 million, or 66 cents per share, up from $105 million, or 48 cents per share, a year ago.

Wall Street analysts on average were expecting earnings of 66 cents a share, according to Thomson Reuters I/B/E/S.

Read Full Article from Reuters

- Posted: 2010-08-12 21:23:00

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