Luxury department short chain Nordstrom Inc. (JWN) on Tuesday reported second-quarter sales more than doubled compared to last year but were still below pre-pandemic levels.

Amid a boom for retail, Nordstrom’s anniversary sale saw an uptick in revenue but revenue was down 6% on a two-year basis. Revenue rose to $3.66 billion from $1.86 billion a year earlier, topping estimates for $3.36 billion.

Investors reacted to Nordstrom's quarterly results compared to rivals Macy's (M) and Kohl's (KSS). As of Tuesday at 7:19 p.m. ET, shares of Nordstrom in extended trading were at $34.82, down $2.90, or 7.91%.

The company reported net earnings of $80 million, or $0.49 per share, compared with a loss of $255 million, or $1.62 a share, a year earlier.

Nordstrom blamed rising freight and labor costs for higher overhead but noted improvements in consumer engagement.

“A compelling merchandise assortment, combined with new and differentiated services and experiences, contributed to strengthening customer engagement and improving financial results during our Anniversary Sale,” said President Pete Nordstrom in a press release.

Nordstrom benefited from a rise in consumer confidence in July, which rose to 129.1 from 128.9 in June. This rise suggests strong economic growth as consumers indicate a continued desire to spend.

“As consumer spending recovers, we are well-positioned to capitalize on a significant opportunity to take market share and drive profitable growth with our expanding product offer, increasing customer engagement, and integrated digital and physical assets,” Erik Nordstrom, chief executive officer of Nordstrom, said in a statement.

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