Nordstrom Profit Up and they Raise Forcasts

This is one of the companies I have been watching for some time and it looks like they had a pretty good quarter recently.

Sales rose 5.2 percent to $2.39 billion, helped by strength in designer
apparel, accessories and men's clothing.

Sales at stores open at least a year, a key metric of financial
health, rose 5.9 percent in the quarter, above the company's expectation of a
rise in the low-single digits.

Nordstrom now expects full-year 2007 earnings to range from $2.91
to $2.97 per share. It earlier forecast earnings between $2.81 and $2.90 per
share.

Luxury is one of the few pockets of consumers that aren't be hurt by gas prices or by food inflation. They also hold up well in any type of economy short of a true recession. I think as the credit crunch works its way through the market stocks with solid fundamentals like Nordstrom's will reap the rewards. It is also good to see a stock like this that have 5.9% same store sales when the rest of the industry has break-even or negative same stores.