Nordstrom Profit Up but Forecast Lags

Nordstrom Inc.’s third-quarter earnings rose 76% as the upscale retailer sold more clothing and accessories. Nordstrom lowered its forecast for the year, sending the company’s shares down.

Net income increased to $18.4 million, or 14 cents a share, from $10.5 million, or 8 cents, a year earlier, the company said. Sales rose 6.8% to $1.32 billion.

The retailer expects this year’s profit, excluding some costs, to rise to $1.15 to $1.19 a share, less than Nordstrom’s previous forecast of as much as $1.24.

Shares of Seattle-based Nordstrom dropped to as low as $18.30 in after-hours trading on the NYSE. They fell 33 cents to $19.13 in the regular session.