Nordstrom 3Q profit slips, but tops expectations

November 14, 2013 

SEATTLE -- Luxury retailer Nordstrom Inc.'s third-quarter net income fell almost 7 percent as an anniversary sale was held earlier in the year.

But the results beat expectations and the company raised the lower end of its full-year earnings guidance.

The news comes as retailers prepare for the all-important holiday season, which can account for up to 40 percent of annual sales.

The Seattle company says for the three months ended Nov. 2, net income fell to $137 million, or 69 cents per share. That compares with net income of $146 million, or 71 cents per share last year.

Revenue rose 3 percent to $2.88 billion from $2.81 billion last year.

Analysts surveyed by FactSet expected earnings of 67 cents per share on revenue of $2.87 billion.

Its shares fell $1.07 to $62.36 in after-hours trading.

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