Nordstrom H1 revenues increase 6.5 percent

American fashion retailer Nordstrom said on Thursday its H1 revenue for 2018 rose 6.5 percent. Profit increased by 43.9 percent from the same period last year. For the second quarter, the company's sales rose by 7.1 percent to 3,980 million dollars compared to 3,717 million dollars last year, while net earnings for the quarter increased to 162 million dollars compared to 110 million dollars last year.

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The company’s sales in H1 2018 were 7,450 million US dollars, up from 6,996 million US dollars a year earlier. Net profit rose to 249 million US dollars. The profit margin of the company increased to 3.3 percent compared to 2.5 percent a year ago. Based on first half results, the company has raised its full year earnings per diluted share expectations to 3.50 dollars to 3.65 dollars from its prior outlook of 3.35 dollars to 3.55 dollars.

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Nordstrom Inc was founded in 1901 by John W. Nordstrom and Carl F. Wallin and is based in Seattle, USA. Founded as a shoe store in 1901, Nordstrom today is a leading American fashion retailer operating through Nordstrom Rack stores; Jeffrey boutiques; clearance stores; Trunk Club clubhouses and its Nordstrom Local service concept.

Offering men's and women's fashion clothing, the Nasdaq-listed company operates more than 373 stores.

For more recent news on the business, collections and executive changes of Nordstrom Inc, click here.

Picture:Nordstrom media centre