NEW YORK (AP) ? Upscale retailer Nordstrom Inc. boosted its full-year earnings and sales outlook Thursday and said it was accelerating the expansion of its Rack outlet stores.
The news came as Seattle-based retailer reported an 11 percent decline in second-quarter net income, as results were affected by the timing of its biggest sale of the year.
During a call with analysts Thursday, company President Blake Nordstrom talked about the Rack business
QUESTION: Does the Rack damage at all the impression that your customer who shops at the regular-price store has about your brand?
ANSWER: Trust us that we are very sensitive to the Nordstrom brand and the core business, the full-line store.
To date, we think it's been very complimentary, and we think it has benefited the company as a whole, so I think it's fair to say as a management team that it is a very important subject for us and one that we have put considerable thought and energy behind it and it's why we feel strongly at this point and why maybe we've taken some time ... I think we've been very purposeful about it and we'll continue to monitor that but at this point, the customer is very favorable.
Source: http://news.yahoo.com/call-nordstrom-president-blake-nordstrom-002850095--finance.html
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