Nordstrom raises forecasts, speeds up Rack buildout

Upscale department store chain Nordstrom Inc on Thursday raised its profit and sales outlook for the year, helped by sales at its popular lower-priced Rack chain which it plans expand dramatically in the next four years. Photo: Nordstrom RackNordstrom now expects same-store sales to rise 6 percent to 7 percent for the fiscal year ending in January, up from an earlier forecast for a rise of 4-6 percent. That includes a high single-digit percentage this quarter. The Rack has given Nordstrom's

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