Nordstrom Rack news and archive

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,"...

BusinessFeatured

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...

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

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...

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Nordstrom posts weak holiday sales, cuts FY22 outlook

Nordstrom, Inc. announced a net sales decrease of 3.5 percent for the nine-week holiday period ended December 31, 2022. For the Nordstrom banner, the company said, net sales decreased 1.7 percent, while net sales at the Nordstrom Rack banner decreased 7.6 percent. Based on holiday results, the company expects its fiscal 2022 results to be at the...

Business

Nordstrom appoints Atticus Tysen to its board of directors

Nordstrom, Inc. has announced the appointment of Atticus Tysen to its board of directors, effective January 3, 2023. Tysen, the company said in a release, has more than three decades of engineering and information security experience. "Atticus is a proven leader with decades of experience in the technology and cybersecurity space. His background...

Business

Nordstrom posts Q3 loss, sales decline

Nordstrom, Inc. reported a third quarter net loss of 20 million dollars and loss per diluted share of 13 cents for the quarter ended October 29, 2022 and adjusted earnings per diluted share of 20 cents. For the third quarter, net sales decreased 2.9 percent versus the same period in fiscal 2021 and gross merchandise value decreased 2.5 percent....