) reported a better-than-expected quarterly profit on Wednesday as it said it had cut costs and cleared more inventory, sending its shares up 10% in extended trading.
Nordstrom, like other brick-and-mortar retailers, is seeking ways to respond to changing consumer habits, with more shoppers preferring fast fashion brands and online giants like Amazon.com Inc rather than malls. It has also worked on inventory management and is offering more on-trend product assortments as part of a turnaround plan to boost profit.
Analysts were expecting Nordstrom to report revenue of $3.93 billion and a profit of 75 cents for the quarter, according to IBES data from Refinitiv. Nordstrom forecast net sales for the year falling by about 2%, at the lower end of its previous estimate.
Cleared inventory at stores. Bullshit. They have no inventory. Every time I go in there they are out of most things I want to buy. P.S. SA La Cantera Shoes department has the worst service and inventory. A waste having Nordstom cars.
Nordstrom is a great company.
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