Nordstrom Ups Guidance, Sets Timeline for Trunk Club Purchase

Strong second-quarter results have encouraged fashion retailer Nordstrom to increase its earnings guidance for the full year. Over the fiscal year ending January, the company expects net income between $3.80 and $3.90 a share, compared to a previous low-end range of $3.75 a share. Expected strength follows from quarterly trends of higher direct sales and the continued success of its loyalty program. Analysts forecast fiscal earnings of $3.75 a share. Nordstrom also said its $350 million acquisition of men's fashion company Trunk Club is expected to close in the third quarter. In its second quarter, earnings beat estimates, while revenue missed.