Aug 27 (Reuters) - Nordstrom ( JWN ) reported an

increase in second-quarter sales on Tuesday, buoyed by its

crucial Anniversary Sale event, even as consumers remain

cautious amid inflationary pressures.

The upmarket department store chain also slightly revised

its annual comparable sales forecast, raising the lower end to a

range of flat to 2% growth, up from its previous projection of a

1% decline to 2% growth.

While affluent shoppers continue to spend, albeit at a

slower pace, benefiting apparel chains such as Abercrombie &

Fitch ( ANF ) and Gap, middle- and lower-income

consumers are feeling the pinch, hurting sales at department

store chains such as Macy's..

A slightly earlier start to Nordstrom's ( JWN ) Anniversary Sale

event, which ran from July 15 through August 4 this year, helped

drive customers to both physical stores and the company's

website, contributing 100 basis points to net sales compared to

2023.

Nordstrom's ( JWN ) shares have declined approximately 3% over the

past month. Analysts cited muted demand during the sale period,

with Placer.ai foot traffic data suggesting July was the

quarter's weakest month.

The stock is up about 16% this year compared with a roughly

18% rise in the broader S&P 500 index.

Total revenue at the company rose to $3.89 billion in

second quarter, from $3.77 billion a year earlier, almost in

line with analysts' average expectation of $3.90 billion,

according to LSEG data.

The Seattle, Washington-based company also revised its

earnings per share projection to between $1.75 and $2.05, up

from the previous range of $1.65 to $2.05

On an adjusted basis, the company reported a profit of

96 cents per share, compared to 24 cents loss in the first

quarter.