Nordstrom, Inc. (NYSE: JWN) today reported earnings per diluted share of $0.95 for the second quarter ended August 2, 2014, compared with earnings per diluted share of $0.93 for the second quarter ended August 3, 2013. Total Company net sales of $3.3 billion for the second quarter increased 6.2 percent compared with net sales of $3.1 billion during the same period in fiscal 2013. Total Company comparable sales for the second quarter increased 3.3 percent. On July 31, 2014, Nordstrom announced that it entered into an agreement to acquire Trunk Club, a personalized clothing service for men. Founded in 2009, Trunk Club delivers a stylist service that combines the convenience of online with a high-touch, personalized shopping experience. Trunk Club is a high-growth company and expects to achieve operational profitability and more than double its annual sales to over $100 million. The Company believes this acquisition represents a natural extension of its core business, aligns with its strategic priorities around a relevant customer experience and accelerates entry into this fast-growing market. The Company will acquire Trunk Club for $350 million in Nordstrom stock, a portion of which is retention-based and subject to future vesting. In addition, the transaction includes a long-term management incentive plan of up to $100 million subject to Trunk Club's performance. The transaction is expected to be dilutive to earnings per diluted share for the next several years primarily due to share issuance, performance incentives and amortization of intangibles. The Company estimates the acquisition, including Trunk Club’s projected operating performance, will reduce earnings per diluted share in fiscal 2014 by 3 to 5 percent. Trunk Club will operate as an independent, wholly-owned subsidiary and will be managed by its current leadership. The transaction is expected to close in the third quarter, subject to closing conditions including customary regulatory and shareholder approvals.