Nordstrom Reports Higher Profits in December (JWN)
Fashion specialty retailer, Nordstrom, Inc.(JWN) reported increased monthly sales for the month of December on Thursday.
The Seattle, WA based company reported a 8.6% increase in store sales for the five weeks ended December 29, compared to store sales ended December 31, 2011. Preliminary retail sales increased by 9.4% to $1.72 billion, from $1.57 billion the year before.
Preliminary quarterly sales were reported at $2.65 billion, up 6.6% from $2.48 the previous year.
The company reported store sales of $10.8 billion for the year, up 10.2% from sales of $9.81 billion in 2011.
Additionally, the company reported a plan to open several new store locations including a full-line store in Wauwatosa, WI in 2015, and three other rack stores in 2013.
Nordstrom shares were up $1.86, or 3.47% during premarket trading Thursday. The stock has increased 7.9% in the past year.
The Bottom Line
Shares of Nordstrom (JWN) have a 2.01% dividend yield, based on last night’s closing stock price of $53.63. The stock has technical support in the $50-$52 price area. The stock is trading near the all-time highs of $56-$58 a share.
Nordstrom, Inc.(JWN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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