Reported 11 months ago
Nordstrom reaffirmed its annual forecasts for sales and profit, emphasizing concerns about the uncertain economy and selective consumer behavior. Despite beating first-quarter revenue expectations, the department store's shares fell nearly 5% in after-market trading. Nordstrom maintained its 2024 forecast of a 1% drop to a 2% rise in comparable sales and an annual profit per share of $1.65 to $2.05, as it continues efforts to boost sales with popular brands like Birkenstock and Prada Beauty. The company's revenue for the quarter increased by 4.8% to $3.34 billion, with a quarterly loss of 24 cents per share.
Source: YAHOO