SEATTLE (AP) — Department store operator Nordstrom Inc. says its profit rose 17 percent in the fiscal third quarter as affluent shoppers started returning.
The company raised its 2009 profit outlook to a range of $1.83 to $1.88 per share from a previous estimate of $1.50 to $1.65 per share.
The Seattle company, which operates its namesake department stores and the Nordstrom Rack discount chain, says it earned $83 million, or 38 cents per share, in the quarter that ended Oct. 31st.
That is up from the $71 million, or 33 cents per share, a year earlier. Analysts polled by Thomson Reuters had expected 39 cents per share.
Revenue rose four percent to $1.96 billion from $1.88 billion.
Nordstrom shares fell 41 cents to $34.44 on Thursday.
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