Where Your Speech Is Free And Your Comment Is King - Post A Link

THE NEWS COMMENTER

VOTE  (0)  (0)

Nordstrom first quarter results disappoint, cuts 2019 forecast


Added 05-21-19 05:03:02pm EST - “Nordstrom Inc on Tuesday cut its forecast for full-year sales and profit after r...” - Reuters.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Reuters.com: “Nordstrom first quarter results disappoint, cuts 2019 forecast”. Below is an excerpt from the article.

(Reuters) - Nordstrom Inc on Tuesday cut its forecast for full-year sales and profit after reporting lackluster first-quarter results, blaming softer trends and “executional issues” related to its loyalty program, sending its shares down nearly 9%.

The retailer, which sells everything from apparel and footwear to home decor, struggled to attract customers at both its full-price and off-price stores and said trends from the fourth quarter continued into the first quarter.

“We had executional misses with our customers,” the company’s co-president Erik Nordstrom said.

It now expects 2019 net sales between a 2% fall to flat growth, compared with its previous projection of 1% to 2% rise.

The company expects 2019 profit between $3.25 per share and $3.65 per share, compared with its prior forecast of $3.65 per share to $3.90 per share.

Read more...

Post a comment.

CLICK TO SHARE

BACK TO THE HOME-PAGE