Nordstrom Profit Sharply Higher

Nordstrom Inc. posted sharply higher third-quarter earnings, helped by better merchandising and cost control.

The Seattle-based retailer said quarterly earnings jumped to $45.5 million, or 33 cents a share, from $18.4 million, or 14 cents, a year earlier.

Analysts had expected earnings of 22 cents a share. Sales rose 9.8% to $1.42 billion.

Before the announcement shares of the department store chain closed at $31.82, up $1.30, on the New York Stock Exchange.