Nordstrom Rack news and archive

Nordstrom Q4 comparable sales beat expectations, CFO departs

Departmental store chain Nordstrom outperformed Wall Street's projections for quarterly comparable sales, achieving a 4.7 percent increase, with Nordstrom banner sales rising 5.3 percent and Nordstrom Rack sales up 3.5 percent. The company reported fourth-quarter net earnings of 165 million dollars or 97 cents per diluted share, alongside EBIT...

Retail

Nordstrom Rack is set to open a new store in Colorado

Nordstrom, Inc. (JWN), an American luxury department store chain, Friday announced that it will open a new Nordstrom Rack store in Longmont, CO, in fall 2025. This expansion is part of the company's efforts to grow its presence in the region. The new 28,000 sq. ft. Nordstrom Rack will be situated in Harvest Junction, a popular shopping center in...

Retail

Nordstorm Rack to expand retail presence in Florida

Seattle-based department store group Nordstrom, Inc. is set to expand the retail presence of its off-price retailer Nordstrom Rack in Florida with the opening of a new location in Estero. Set to open in Fall 2025, the new Nordstrom Rack will be located in Coconut Point, an outdoor shopping center with more than 110 retail units including...

Retail

Nordstrom Rack to open new location in Prosper, Texas

Seattle-based department store chain Nordstrom, Inc. has announced plans to open a new Nordstrom Rack in Prosper, Texas, come fall 2025. "We look forward to being a part of the Prosper community and serving our customers with an amazing offering of great brands at great prices," said Gemma Lionello, president of Nordstrom Rack, in a statement....

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Nordstrom Q1 sales increase 5.1 percent, reaffirms outlook

Nordstrom, Inc. reported a first quarter net loss of 39 million dollars or loss per share of 24 cents and loss before interest and taxes of 21 million dollars. Net sales for the quarter increased 5.1 percent, while comparable sales increased 3.8 percent. Gross merchandise value (GMV) for the quarter increased 4.9 percent. Commenting on the first...

Retail

Nordstrom Rack to open new location in Apple Vally, Minnesota

Nordstrom Rack is set to expand its retail presence in Minnesota with the opening of a new location. The new store, which will open in Apple Valley in spring 2025, will see the Nordstrom. Inc.-owned brand operates a total of five Nordstrom Rack stores across the Minnesota area. "We look forward to being a part of the Apple Valley community and...

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Nordstrom shares fall 10 percent after weak forecast

For fiscal 2024, Nordstrom announced that its expects revenue range of 2 percent decline to 1 percent growth, comparable sales range of 1 percent decline to 2 percent growth, EBIT margin of 3.5 to 4 percent of sales and EPS of 1.65 dollars to 2.05 dollars. The company's weak forecast compared to LSEG estimates of a 0.04 percent sales rise and...

Retail

Nordstrom Rack to open new location in Franklin, Tennesee

Nordstrom Rack is set to open its fifth location in Tennessee next fall. Located in Franklin, the new store opening sees the Seattle-based fashion retailer Nordstrom strengthen its presence in the state. "We look forward to being a part of the Franklin community and serving our customers with an amazing offering of great brands at great prices,"...

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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...

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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

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...

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Nordstrom to close all stores in Canada, expects 2023 revenue to decline

Nordstrom, Inc. reported fourth quarter net earnings of 119 million dollars or 74 cents per diluted share and EBIT of 187 million dollars or 4.5 percent of sales. For the fiscal year ended January 28, 2023, net earnings were 245 million dollars and diluted EPS was 1.51 dollars, with EBIT of 465 million dollars or 3.1 percent of sales. Adjusted...