Nordstrom Rack news and archive

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...

BusinessFeatured

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...

BusinessFeatured

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....

BusinessFeatured

Nordstrom CFO Anne Bramman to step down in December

Nordstrom, Inc. chief financial officer Anne Bramman has informed the company of her intention to step down from her role. The company said in a release that she will remain with the company through the reporting of Nordstrom's third quarter financial results to facilitate a smooth transition. Her last day with the company will be December 2,...

BusinessFeatured

Nordstrom cuts outlook despite strong Q2

Nordstrom, Inc. reported second quarter net earnings of 126 million dollars and earnings per diluted share of 77 cents. Excluding costs associated with the wind-down of Trunk Club, the company reported adjusted earnings per share of 81 cents. For the quarter, net sales increased 12 percent, exceeding pre-pandemic sales levels, and gross...

BusinessFeatured

Nordstrom announces appointment of two senior executives

Nordstrom, Inc. has announced the appointment of two new senior executive leaders. The company said in a release that Deniz Anders was promoted to senior vice president and chief marketing officer, and Nina Barjesteh, a senior executive at Dick's Sporting Goods, will join the company as president, Nordstrom Product Group. "Deniz is a proven...

BusinessFeatured

Nordstrom raises outlook after strong Q1

For the first quarter, Nordstrom, Inc. reported net earnings of 20 million dollars and earnings per diluted share (EPS) of 13 cents. Excluding a gain on the sale of the company's interest in a corporate office building and an impairment charge related to a Trunk Club property, the company posted an adjusted loss per share of 6 cents. The company...

BusinessFeatured

Nordstrom announces senior leadership changes

Nordstrom, Inc. has announced the retirements of Scott Meden, chief marketing officer (CMO), and Geevy S.K. Thomas, president of Nordstrom Rack. The company also announced the appointments of Ken Worzel and Jamie Nordstrom to the newly created roles of chief customer officer and chief stores officer, respectively. Nordstrom announces retirements...

People

Nordstrom appoints Amie Thuener to board of directors

Nordstrom, Inc. has announced the appointment of Amie Thuener to its board of directors, effective March 15, 2022. "We are pleased to welcome Amie to our board and are confident her expertise will provide important contributions to the company," said Brad D. Smith, chairman of the Nordstrom board, adding, "Her experience working for some of the...