Nordstrom misses Wall Street's earnings expectations as off-price chain Rack lifts sales
Publishing timestamp: 2024-05-30 17:34:41
Summary
Nordstrom missed quarterly estimates but stuck by its full-year forecast. The company's off-price chain Rack outperformed its banner stores. The Nordstrom family is considering taking the company private. Despite falling short of Wall Street's expectations, Nordstrom posted sales growth and reaffirmed its full-year forecast. Nordstrom shares slid about 7% in extended trading. The company's off-price chain, Nordstrom Rack, showed signs of progress in the quarter. Nordstrom anticipates full-year revenue will be in the range of a 2% decline to 1% growth from the prior year. The results come as the Nordstrom family considers taking the company private.
Sentiment: MIXED
Keywords: business news, tjx companies inc, breaking news: business, breaking news: earnings, nordstrom inc, earnings, retail industry, business,
Source: https://www.cnbc.com/2024/05/30/nordstrom-jwn-q1-2024-earnings-.html