NORDSTROM news and archive

Nordstrom posts Q3 revenue decline of 6.8 percent

Nordstrom reported third quarter net earnings of 67 million dollars or earnings per diluted share of 41 cents and EBIT of 102 million dollars, while adjusted EPS was 25 cents. The company’s net sales decreased 6.8 percent versus the same period in fiscal 2022 and gross merchandise value (GMV) decreased 7.1 percent. "In the third quarter we...

Business

Nordstrom appoints new chief human resources officer

American department store chain Nordstrom has announced its new chief human resources officer to be Lisa Price, who will step into the role from November 6. She joins the company from Domino’s Pizza, where she had served in the same position, as well as executive vice president from August 2019. She had further spent 20 years at Starbucks, where...

Nordstrom appoints Guy Persaud to board

US luxury department store chain Nordstrom has appointed Guy B. Persaud to its board, bringing its board size to 12 members. Persaud has almost 30 years of experience leading multi-billion-dollar businesses and global organizations. He is currently the president of the new business unit at US consumer goods giant Procter & Gamble. “We're...

People

Nordstrom announces three executive hires

US department store chain Nordstrom has added three new executive members to its merchandising and store organization teams. Jamie Nordstrom has been appointed as chief merchandising officer. He has held various senior roles at Nordstrom, including as chief stores officer. He replaces Teri Bariquit, who retired earlier this year. “Our...

Retail

Nordstrom says theft in its stores is at historic high

Department store group Nordstrom’s sales have taken a tumble in Q2 with shoplifting causing a dent in its profits. The US-based retailer said sales fell 8.3 percent, however a rise in crime has been instrumental in mounting these losses, which are a ‘historic high’, CEO Erik Nordstrom said in an earnings call with analysts. Nordstrom is not...

BusinessFeatured

Nordstrom Q2 sales drop 8.3 percent

Nordstrom, Inc. reported second quarter net earnings of 137 million dollars or earnings per diluted share (EPS) of 84 cents and EBIT of 192 million dollars. The company’s net sales decreased 8.3 percent compared to a decrease of 11.6 percent in the first quarter, reflecting sequential improvement in sales at both Nordstrom and Nordstrom Rack....

Retail

Patagonia sues Nordstrom for selling 'counterfeit' products

American department store chain Nordstrom has been accused of selling counterfeit Patagonia sweatshirts and T-shirts, according to a lawsuit filed by the sustainable clothing brand. The lawsuit states that Nordstrom continued to sell the fake items even after its "years-long dealer relationship" with Patagonia had ended. The sales allegedly took...

BusinessFeatured

Nordstrom Q1 profits narrow, reiterates FY adjusted EPS outlook

Nordstrom has reaffirmed its full-year revenue and adjusted EPS outlook despite weaker sales in the first quarter as the company was impacted by falling consumer demand and the impact of the wind-down of its Canadian operations. Total net sales at the US department store chain fell 11.6 percent to 3.06 billion dollars in the quarter ended April...

Business

Nordstrom names Cathy Smith CFO

Department store group Nordstrom has announced the appointment of Cathy Smith as its chief financial officer, effective May 29. In the role, Smith will be tasked with overseeing the financial planning, accounting, tax internal audits and investor relations of the company, among other things. She joins Nordstrom from Bright Health Group, where...

Business

Former Nike COO Eric Sprunk joins Nordstrom board of directors

Nordstrom, Inc. has announced the appointment of Eric Sprunk, former chief operating officer of Nike, Inc., to its board of directors, effective immediately. Sprunk, Nordstrom said, will stand for election at the company's upcoming 2023 annual meeting of shareholders. With Sprunk's appointment, the Nordstrom Board has been expanded to 11...

Business

Nordstrom names Jason Morris as chief technology and information officer

Nordstrom, Inc. has announced the appointment of Jason Morris as chief technology and information officer, effective May 1, 2023. Morris, the company said, has more than 25 years of technology experience in the retail industry and joins Nordstrom from Walmart, where he most recently led global enterprise technology as senior vice president of...

Retail

Nordstrom to open nine new Nordstrom Rack stores across US

Fashion retail group Nordstrom has unveiled that it is set to open nine new stores for its off-price retail concept, Nordstrom Rack. The majority of the stores are scheduled to open in spring 2024, with one to launch at a later date in 2025. Three of the spaces will be located in Macedonia in Ohio, Wheaton in Illinois and Jacksonville Beach in...