Nordstrom Reports Higher Profits in December (JWN)

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 DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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