Nordstrom earnings top expectations, retailer says it's winding down Canada operations
Publishing timestamp: 2023-03-02 16:29:40
Summary
Nordstrom reported lower sales and profits for the holiday quarter, although earnings topped Wall Street's expectations. The retailer has struggled with slower sales, more markdowns, and scrutiny from activist investor Ryan Cohen. For the new fiscal year, Nordstrom expects revenue to fall 4-6%, including the negative impact from Canadian store closures. Cohen bought, and later sold, a major stake in Bed Bath & Beyond, after criticizing the former CEO's strategy and pushing for change. Nordstrom shares are up 19% this year.
Sentiment: MIXED
Tickers: GME, BBBY, JWN, CHWY,
Keywords: breaking news: business, nordstrom inc, chewy inc, gamestop corp, business news, retail industry, earnings, business, breaking news: earnings, bed bath & beyond inc,
Source: https://www.cnbc.com/2023/03/02/nordstrom-jwn-earnings-q4-2022.html