Investing.com -- Shares in Nordstrom Inc (NYSE:JWN) surged nearly 5% in after-hours trading after the Seattle-based upscale fashion retailer saw its same-store sales and overall revenues rise sharply over its last quarter.
During Nordstrom's second quarter, which ended on August 1, the retailer reported a 9.2% spike in sales over the three-month period, including a 4.9% increase in same-store sales. Within overall sales, Nordstrom also reported a 20% gain in e-commerce revenues as it gradually shifts its business to its online web site.
In total, the company earned revenues of $3.7 billion for the quarter, slightly above analysts' expectations of $3.67 billion. In addition, Nordstrom reported net profits of $211 million or earnings of 1.09 per share above earnings during the same period last year of $183 million or 0.95 per share.
The company's revenues reflect the $1.8 billion sale of its U.S. Visa and private label consumer credit card portfolio to TD Bank of Canada in late-May. The sale resulted in a net of $325 million in debt reduction, the company said in a statement, as well as a gain of $51 million.
Nordstrom, which was founded in 1901, continues to cultivate its relationship with corporate entities in Canada. In September, it is scheduled to open a store in Vancouver, part of a plan to open six stores north of the border over the next several years.
"Our second quarter performance demonstrated the ongoing execution of our customer strategy which is driving continued strength in our business," Co-President Blake Nordstrom said in a conference call on Thursday. "The Anniversary Sale, our largest event of the year, performed on plan and was consistent with our trends, led by strengths in cosmetics and women's apparel."
Shares in Nordstrom jumped 3.62 or 4.83% to 78.54 in after-hours trading.