Seattle — Nordstrom Inc. executives were upbeat Tuesday at the chain’s annual meeting here, saying there are no indications that rising gas prices or the strong euro will adversely affect business with European vendors such as the footwear company Franco Sarto.
“We’re mindful of [the situation], but we’re focused on the things that we can control,” said president Blake Nordstrom, citing factors such as improved customer service.
Responding to net earnings of $68.7 million for the first quarter compared with $27.2 million for the same period last year, investors chanted, “Hip, hip, hooray’’ as the session ended.
“Confidence has definitely improved,” said Pete Nordstrom, executive vice president and president of full-line stores, who attributes robust sales partly to the rollout in 2003 of Nordstrom’s Perpetual Inventory tracking system. “The rollout of Perpetual Inventory is a five-year plan, and we’re only on year two,” he said.
— Michelle Dalton Tyree