Wednesday, July 11, 2018

Nordstrom investors balk at 5-year plan

Retail Dive
Nordstrom has big ambitions for growth, but investors and analysts don't seem to be entirely convinced. The upscale department store retailer was downgraded by Cowen & Co. analysts early this month, citing pressures on full-line sales, store traffic and margins and a need to improve its off-price Rack division.

Executives on Tuesday acknowledged that women's apparel at Rack missed the mark in a big way and that they're attuned to what they need to do to execute better. Off-price comps grew just 0.4% in the first quarter of 2018, down from 4% growth in the fourth quarter of 2017. . . . more