Friday, March 1, 2019

Nordstrom profit beats Wall Street, helped by discount stores

Reuters
Department store operator Nordstrom Inc on Thursday reported better-than-expected quarterly profit but missed Wall Street’s sales estimates, as customers bought more merchandise at its off-price stores and less at its full-price stores.

Nordstrom, like other brick-and-mortar retailers, has struggled to react to consumers moving towards fast-fashion brands and online outlets rather than visiting malls.. . . more