Nordstrom revenues surpass $7 billion with better than expected results

U.S. luxury retailer Nordstrom reported today better-than-expected results for the Q2 2015 and raised its guidance for fiscal 2015. Nordstrom’s total revenue of $3,701 million registered a 9.1% year-over-year increase

Nordstrom’s net income grew by 5% to $339 million (about 303 million euro), while revenues reached 7 billion (about 6.2 billion EUR), an increase of + 9.5%. Net increased from 6.1 billion dollars (about 5.4 billion euro) in the first half of 2014 to the current $6.7 billion (about 6 billion Euros).

The company’s net Retail sales increased 9.2% to $3,598 million, while its Credit Card revenues advanced 7.3% to $103 million. This marked the company’s fourth consecutive quarter of high-single-digit retail sales growth.

During the first half of fiscal 2015, the company opened 2 full-line stores and 11 new Rack stores. This brings the company’s total store count to 304 from 271 at the end of second-quarter fiscal 2014.

In the third quarter, management plans to open three full-line stores and 16 Nordstrom Rack stores, while relocating one full-line store in Los Angeles, CA. The three new full-line stores are expected to come up in Vancouver, British Columbia, Canada; Minneapolis, MN; and Milwaukee, WI.

Nordstrom Ottawa, Canada