Luxury retailer Nordstrom plans to close both of its downtown San Francisco stores because of dramatic changes in the area in the last few years, according to the company. In all, the company will walk away from nearly 358,000 square feet of downtown retail space. The Nordstrom Rack store on Market Street will close July…
Nordstrom to Wind Down Canadian Business, Expects Weak Annual Revenue
Nordstrom Inc said on Thursday it would discontinue its Canadian operations and forecast annual revenue below analysts’ expectations, signaling high inflation levels were dampening consumer spending on discretionary items. The decision to wind down the operations would result in about a $400 million decline in total net sales in fiscal 2023, the company said, adding…
Nordstrom Lowers Annual Forecast as Inflation Hits Demand
Nordstrom Inc. cuts its annual revenue and profit forecasts on Tuesday, a sign that decades-high inflation was squeezing consumer spending on its high-end clothing and footwear. Runaway inflation has prompted consumers to shift spending away from clothing and other discretionary items to groceries, hitting sales at apparel retailers and driving up inventories. That has led…
Chart Wars: Does Nordstrom or Urban Outfitters Appear Stronger After Q1 Earnings?
Nordstrom, Inc (NYSE:JWN) and Urban Outfitters, Inc (NASDAQ:URBN) were soaring over 11 percent and 9 percent, respectively, on Wednesday after the retailers reported first-quarter financial results. For the first-quarter 2022, Nordstrom reported a loss of 6 cents per share, which slightly missed the consensus estimate of a loss of 5 cents and revenues of $3.46…
4 Nordstrom Analysts React to Mixed Q1 Earnings: ‘We Remain Skeptical’
Nordstrom, Inc. shares traded higher by 11 percent on Wednesday after the company reported strong first-quarter sales numbers and raised its full-year guidance. On Tuesday, Nordstrom reported a first-quarter adjusted EPS loss of 6 cents, slightly missing consensus analyst estimates of a 5-cent loss. First-quarter revenue of $3.57 billion exceeded Wall Street expectations of $3.28…
Robbers Steal Designer Purses From Westfield Topanga Nordstrom Store
November 25, 2021
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CANOGA PARK, Calif.—Robbers attacked a security guard and stole designer handbags worth an estimated $25,000 from the Nordstrom store at the Westfield Topanga mall in Canoga Park Wednesday night, Nov. 24. The robbers ran through a door and took several high-end purses, Los Angeles Police Department Deputy Chief Alan Hamilton told ABC7. A group of at least…
NTD Business Full Broadcast (Nov. 24)
The CEO of JP Morgan apologizing to the Chinese regime because of a joke. What did he say? And why does he regret it? A Canadian energy company suing the Biden Administration. It’s trying to recoup losses from the canceled Keystone XL Pipeline project. And Shares of Gap and Nordstrom plummet today, after reporting weak earnings due to supply chain…
Brazen Shoplifting and Traumatized Staff Impacting Company Profits: Best Buy CEO
November 24, 2021
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Best Buy CEO Corie Barry said Tuesday that theft is a growing problem in the company’s stores, and the aggressive behavior displayed by shoplifters is “traumatizing” staff members, which has led to retention issues in the otherwise tight labor market. Barry told Wall Street analysts on a conference call to discuss earnings that criminals often…
California Nordstrom Ransacked by 80 Looters in Ski Masks With Crowbars: Witnesses
A Nordstrom in Northern California was ransacked by dozens of apparent looters clad in ski masks while armed with crowbars, according to witnesses and video footage. “We probably saw 50 to 80 people in ski masks crowbars a bunch of weapons. They were looting the Nordstrom’s right here. And I thought they were going to…
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