Nordstrom Maintains Growth Strategy Despite Lowered Profits
Expanded channels, new store openings and a new distribution center planned for the remainder of 2013 and beyond, Seattle-based high-end fashion retailer Nordstrom's plans haven't been derailed by a decrease in profits in this year's third quarter. The company isn't only maintaining its omnichannel, e-commerce and brick-and-mortar stores’ growth models, it even bumped up the low end of its full-year earnings guidance. For the quarter ending Nov. 2, Nordstrom is reporting net income of $137 million. This is a drop of 6 percent compared to last year's third-quarter earnings of $146 million.