Nordstrom’s results reflect cautious consumer spending, echoing department store sector blues
1 year, 4 months ago

Nordstrom’s results reflect cautious consumer spending, echoing department store sector blues

Associated Press  

NEW YORK — Nordstrom on Thursday reported that its sales and profits fell in its fiscal second quarter, joining itsdepartment store peers coping with shoppers’ cautious spending. Nordstrom’s sales were affected by the timing of the company’s anniversary sale, with one week falling into the third quarter this year compared to one day in 2022. Moreover, last year’s results included a full quarter of sales from its Canadian operations, which the company wound down in June of this year. Nordstrom reported net income of $137 million, or 84 cents per share, for the quarter ended July 29.

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Nordstrom to be acquired by Nordstrom family and a Mexican retail group in $6.25 billion deal
1 day, 15 hours ago

Nordstrom to be acquired by Nordstrom family and a Mexican retail group in $6.25 billion deal

Associated Press  

Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal with the industry being squeezed by discount chains and other competition. The offer announced Monday tops the previous $23-per-share bid that the Nordstrom family and Mexican retail group, El Puerto de Liverpool, made in …

The Nordstrom family teams up with a Mexican retail group to bid for its namesake retailer
3 months, 2 weeks ago

The Nordstrom family teams up with a Mexican retail group to bid for its namesake retailer

Associated Press  

NEW YORK — Members of the Nordstrom family with the help of a Mexican retail group are offering to take the century-old department store private for $3.76 billion, months after first expressing interest in a buyout. The Mexican retail group, El Puerto de Liverpool, operates more than 300 stores in Mexico and is that nation’s third-largest credit card issuer with …

Best Buy posts better-than-expected 3Q profits but sales sluggish amid spending malaise
1 year, 1 month ago

Best Buy posts better-than-expected 3Q profits but sales sluggish amid spending malaise

Associated Press  

NEW YORK — Best Buy Co. on Tuesday posted stronger-than-expected profits for its fiscal third quarter but is still struggling with sales declines as shoppers pulled back on a broad range of items from appliances to computers and phones in an uncertain economy. That scenario marks a big difference from Best Buy’s sales during the depths of the pandemic, which …

Kohl’s posts declines in 2Q profits and sales, joining other stores facing cautious spending
1 year, 4 months ago

Kohl’s posts declines in 2Q profits and sales, joining other stores facing cautious spending

Associated Press  

NEW YORK — Kohl’s reported on Wednesday that profits dropped nearly 60% on weak sales in the second quarter, joining a slew of retailers that are wrestling with shoppers’ cautious spending in a challenging economy. But Kohl’s results beat Wall Street expectations as the retailer cut inventory and expenses. Kohl’s, based in Menomonee Falls, Wisconsin, is among the last group …

Kohl’s cuts annual forecast, as it gets stung with inflation
2 years, 7 months ago

Kohl’s cuts annual forecast, as it gets stung with inflation

Associated Press  

NEW YORK — Kohl’s Corp. cut its annual earnings and sales forecast, as the department store chain joins a string of retailers stung with soaring inflation. Like many department stores, Kohl’s had struggled before the pandemic, but the health crisis wielded a big blow to sales. But Gass said that high inflation is making shoppers rethink their purchases, noting that …

Nordstrom Rack’s Latest Sale Is Full Of Work-From-Home Essentials
4 years, 3 months ago

Nordstrom Rack’s Latest Sale Is Full Of Work-From-Home Essentials

Huff Post  

HuffPost may receive a share from purchases made via links on this page. HuffPost This Labor Day weekend, Nordstrom Rack's annual sale on sale is running now through Monday, during which time you can save an extra 25% off already on sale items. Fortunately, there are a ton of work-from-home essentials in Nordstrom Rack’s latest sale that look just a …

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