Pursuits
Nordstrom Shares Plunge After Profit Misses Analysts' Estimates
Retail Results: Bad Economy or Bad Strategies?
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Nordstrom Inc. joined Macy’s Inc. in posting woeful results last quarter, renewing concern that U.S. shoppers are skipping a trip to the mall and spending their money on cars, homes and iPhones instead.
Nordstrom’s profit shrank to 57 cents a share in the period, excluding some items, the company said on Thursday. Analysts had projected 72 cents on average. Sales also missed estimates, even at the company’s once-hot Nordstrom Rack outlet chain.