Nordstrom's full-price comparable sales for holiday season disappoints
Reuters
Published Jan 15, 2019 07:21PM ET
Nordstrom's full-price comparable sales for holiday season disappoints
(Reuters) - Nordstrom Inc (N:JWN) said on Tuesday comparable store sales at its full-price department stores rose only 0.3 percent during the crucial months of November and December, blaming lower traffic.
The department store operator said year-to-date sales at full-price stores were below its expectation and included higher discounts taken during the holiday season and steps to adjust its inventory.
In contrast, Nordstrom said comparable sales at its off-price stores rose 3.9 percent during the nine-week ended Jan.5, while online sales jumped 18 percent during the period.
Nordstrom said it expects full-year adjusted profit to be in the range of $3.55 to $3.65 per share, from the prior forecast of $3.50-$3.65.
Department store retailers such as Macy's Inc (N:M) and Kohl's Corp (N:KSS) earlier this month reported disappointing holiday sales.
Shares of Nordstrom, which will report results Feb. 28 after markets close, were down 3 percent in light volumes in trading after the bell.
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Written By: Reuters
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