SEATTLE (AP) - Nordstrom said Thursday that its revenue in stores open at least one year rose more than expected as affluent shoppers continue to shop freely.
The high-end retailer, based in Seattle, said those sales rose 7.1 percent, above the 5.8 percent gain analysts polled by Thomson Reuters expected. Revenue at stores opened at least a year is considered a key measure of retail performance because it excludes sales at new stores or those that were closed during the last year.
Total revenue for the four weeks ended April 28 rose nearly 11 percent to $802 million.
First-quarter revenue in stores open at least one year rose 8.5 percent. And total sales for the quarter rose nearly 14 percent to $2.54 billion, slightly short of the $2.59 billion analysts expected.
Nordstrom Inc. operates 230 stores in 31 states, including 117 full-line stores, 109 Nordstrom Racks, two Jeffrey boutiques, one treasure & bond store and one clearance store.