UPDATE: Nordstrom Posts 11% Drop In Q2 Profit, Lifts 2012 Forecast
Nordstrom (NYSE: JWN) posted an 11% drop in its second-quarter profit and raised its 2012 forecast.
Nordstrom's quarterly profit fell to $156 million, or $0.75 per share, from $175 million, or $0.80 per share, in the year-ago period.
Its revenue climbed 7% to $2.92 billion. Same-store sales rose 4.5%.
Its gross margin dropped to 36.6% from 37.4%.
Nordstrom lifted its 2012 earnings forecast to $3.40 to $3.50 per share.
Nordstrom shares closed at $55.08 yesterday.
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