Nordstrom Tops Wall Street’s Quarterly Expectations, Even as It Braces for Sales Declines
August 25, 2023
Nordstrom has exceeded Wall Street’s expectations for its quarterly sales and earnings, indicating progress in its turnaround efforts. However, despite the beat, the retailer maintained its previous full-year outlook, projecting a decline in revenue of 4% to 6%. While Nordstrom has shown improvement, its sales for the upscale department store still remain below pre-pandemic levels, with challenges seen in its Nordstrom Rack chain as well as in digital sales.
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