Headlines

Nordstrom Nods Negative Too

Fourth-quarter earnings could fall way short of predictions

Published

23 years ago

January 9, 2001

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Shares fell by $1.25, after the Friday announcement that Nordstrom's fourth-quarter earnings could be 50 percent less than analysts expected.

The Seattle-based retailer cites weak sales and increased markdowns. For the lackluster holiday season (felt by most retailers), Nordstrom reported almost a 3 percent drop in December same-store sales, although total sales rose by 5.6 percent.

Reportedly, the retailer is working through an identity crisis — strategies geared toward younger customers (flashing lights and funky apparel) have turned off its traditionally conservative customer base. Currently, the retailer is refiguring how much sales space to give to the more contemporary merchandise.

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