Nordstrom topped Wall Street’s earnings expectations, as shoppers bought more clothing and shoes.

Nordstrom A slightly higher sales forecast was presented on Tuesday, with revenue rising about 4% year-over-year as shoppers bought clothing, shoes and activewear at both the company’s namesake department store and its off-price stores. .

The Seattle-based retailer said it now expects full-year revenue, which includes retail sales and credit card revenue, to be flat to 1 percent for the full year. This compares to its previous range of 1% decline to 1% growth. However, it stuck to its adjusted earnings outlook for the year between $1.75 and $2.05 per share.

In a news release, CEO Erik Nordstrom said the company’s results show efforts to appeal to select buyers are paying off. Sales of women’s apparel and activewear grew by double digits year over year. Footwear, menswear and kids grew in mid to high single digits year over year.

Compared to the second quarter, sales of women’s apparel, footwear and men’s apparel also increased sequentially in the fiscal third quarter.

“Our customers have many choices, and our results encourage us that we are on the right track,” he said. “Looking forward, we will continue to improve our shopping experience as we strive to maintain the positive momentum we have worked for all year.”

How Nordstrom did in the three-month period ended Nov. 2 compared to Wall Street’s expectations, based on a survey of LSEG analysts:

• Earnings per share: Adjusted to 33 cents, it was not immediately clear whether that was comparable to analysts’ estimates.
• Income: $3.46 billion vs. $3.35 billion expected

Nordstrom’s net income for the fiscal third quarter was $46 million, or 27 cents per share, compared with $67 million, or 41 cents per share. in the period of the previous year. Revenue rose from $3.32 billion in the year-ago quarter.

After excluding a charge related to accelerated technology depreciation, Nordstrom reported adjusted earnings per share of 33 cents.

Comparable sales at Nordstrom’s two brands, its namesake and its off-price chain, Nordstrom Rack, rose 4%. That easily topped analysts’ expectations for a gain of 0.7% in comparable sales, according to StreetAccount.

Nordstrom’s sales growth, while modest, is notable at a time when discretionary merchandise sales and the luxury category are under pressure. Retailers including Walmart, Best Buy and Target have reported over the past week that customers are being pickier when it comes to buying items that are wanted, not needed, and more focused on price.

Despite the calendar change with its anniversary sale, Nordstrom’s sales also increased. In the year-ago quarter, eight days of sales fell over a three-month period, but this year the quarter fell by just one day. This had a negative impact on net sales of approximately 1%.

Massey, Joe His entire income was deferredsaid third-quarter sales fell 2.4% and comparable sales from online marketplaces excluding its owned and licensed businesses fell 1.3%.

Nordstrom is leaning on its off-price chain, Nordstrom Rack, to drive both sales growth and new store locations. Yet in the third quarter, both banners reported similar comparable sales — up 4% at the namesake store and 3.9% at Nordstrom Rack.

Nordstrom’s latest quarterly update comes nearly two months after Nordstrom’s founding family. made a fresh bid to take the company private. According to a filing in September, CEO Eric Nordstrom, President Peter Nordstrom and Mexican retailer El Puerto de Liverpool sent a non-binding letter to form an entity that would buy the chain for $23 a share.

Since then, the company’s shares have risen. A Reuters report in March That Nordstrom’s founding family wanted to take the company private. As of Tuesday’s close, the company’s stock is up 32% so far this year, outpacing the S&P 500’s 26% gain.

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