Nordstrom's 3rd-quarter profit rises 15 percent

NEW YORK (AP) - Nordstrom Inc. reported a 15 percent increase in third-quarter net income, fueled by strong demand of men's shoes, men's clothing and children's fashions.

The strong quarter is encouraging news as the upscale retailer heads into the holiday season.

The upscale department store chain said late Thursday that it earned $146 million, or 71 cents per share for the three-month period ended Oct. 27. That compares with $127 million, or 59 cents per share, in the year-ago period.

Revenue rose 14 percent to $2.81 billion, up from $2.47 billion in the year-ago period. Revenue at stores opened at least a year were up 10.7 percent. Its online business was up 38 percent for the quarter compared with a year ago.

Analysts, on average, had expected 72 cents per share on revenue of $2.75 billion, according to FactSet.

Nordstrom, based in Seattle, narrowed its full-year profit outlook to $3.45 per share to $3.50 per share, up from its guidance of $3.40 to $3.50 issued in August..

It also expects revenue at stores opened at least a year to rise 6.5 percent to 7.0 percent. In August, it had forecast growth of 6 percent to 7 percent.