March 1, 2018 / 9:27 PM / 8 months ago

Nordstrom fourth-quarter sales beat expectations

CHICAGO, March 1 (Reuters) - Nordstrom Inc reported far better-than-expected same-store sales on Thursday, boosted by strength at its online businesses during the holiday shopping season.

The upscale Seattle-based clothing and accessories retailer said fourth-quarter net income fell to $151 million, or 89 cents per share, from $201 million, or $1.15 per share, a year earlier. Nordstrom said the most recent earnings included impacts associated with corporate tax reform.

The retailer reported a 2.6 percent increase in same-store sales for the quarter ended Feb. 3, handily beating the 1.08 percent increase expected by analysts, according to Thomson Reuters I/B/E/S.

Net sales rose 8.4 percent to $4.6 billion. (Reporting by Richa Naidu; Editing by Jonathan Oatis)

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