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Nordstrom Earnings Beat The Street, Loyalty Program Grows

Nordstrom’s earnings exceeded analysts’ expectations last week, and the company subsequently raised the lower end of its full-year profit guidance, in contrast to forecast cuts in profits for other department store retailers, including Macy’s Inc. and Kohl’s Corp. “The retailer said its enhanced loyalty program, The Nordy Club, grew 13% in the quarter to more than 12 million active customers, and accounted for nearly 65% of sales for the third quarter,” according to Chain Store Age.

Read the whole story at Chain Store Age »

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