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New Store Openings, Online Growth Help Nordstrom Beat Q1 Sales Goals

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Nordstrom, Inc. (JWN) reported fiscal first-quarter sales and earnings Friday that surpassed expectations on the top line but fell short on the bottom.

For the three months ended May 2, total company net sales increased 9.8% to $3.2 billion, beating Wall Street estimates of $3.1 billion. The gains were driven by new store openings, the acquisition of Trunk Club, exceptional growth in e-commerce sales, and a comparable-store sales increase of 4.4%.

Read more at Sourcing Journal.