The second quarter was a strong one for Nordstrom as growth in sales and net earnings led the company to raise its outlook for the remainder of its fiscal year.
For the three months ended August 4, net sales were up 7.1% to $3.98 billion, up from sales of $3.71 billion for the comparable quarter the previous year. Net earnings were $162 million, up from net earnings of $110 million in the second quarter of 2017. Diluted earnings per share was $0.95, up from $0.65 from a year ago. Comparable store sales for the quarter were up 4%.
Based on results through the first six months of the year, Nordstrom now expects yearly net sales to be between $15.4 billion and $15.5 billion, up from previous guidance of $15.2 billion to $15.4 billion. Same-store sales growth of 1.5% to 2% is now anticipated, with earnings per share of between $3.50 to $3.65 now forecasted.