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Nordstrom cuts costs, delivers better than expected earnings

Reuters/Yahoo Finance 08/22/2019

Nordstrom beat Wall Street’s earnings expectations after cutting costs and excess inventory levels. The retailer’s net earnings for the second quarter came in at 90 cents per share, ahead of the consensus of 75 cents. Nordstrom reported that net sales fell about two percent as the company’s namesake and Rack stores posted declines. Digital sales rose four percent during the period.

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