Nordstrom Inc. (NYSE: JWN) reported Thursday that its sales comparison rose last month as the company increased its full-year earnings outlook to top analyst estimates.
The department store operator's sales at stores open at least a year grew 7.4 percent in December, significantly topping the 2.5 percent increase that was forecasted by analysts surveyed by Thomson Reuters.
Penny Stock Professor, a leading financial publication, is pleased to alert investors of stocks on the move. Sign Up for our Free Penny Stock Picks.
Total retail sales for the period ended Jan. 2 increased 10.8 percent to $1.25 billion.
For the quarter to date, sales at stores open at least a year rose 5.4 percent with total retail sales up 8.9 percent to $2 billion.
Nordstrom said it now expects its fiscal 2009 profit above its previous guidance for earnings of $1.83 to $1.88 per share, citing the company’s strong quarter-to-date performance.
Analysts, whose estimates normally exclude one-time items, predict a full-year profit of $1.83 per share.
For the year to date, sales at stores open at least a year dropped 5.1 percent, with total retail sales off 1.1 percent to $7.72 billion.
Follow us on Twitter: http://www.twitter.com/pennystockspro
Sign up for the free Penny Stock Professor newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
About Us
Penny Stock Professor is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer.
