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Nordstrom's Sales Slump Show It Can’t Sidestep Retail Gloom

  • Hurricanes reduced profitability during the latest quarter
  • Retailer may face tougher path to securing buyout financing
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Gadfly’s Sarah Halzack discusses Nordstrom posting a worse-than-expected sales decline ahead of the holiday season.(Source: Bloomberg)
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Nordstrom Inc. posted a worse-than-expected sales decline ahead of the holiday season, disappointing investors who’d hoped the upscale department-store chain was bucking the mall malaise.

Comparable sales turned negative, showing the previous quarter’s gain may have been fleeting rather than part of a sustained turnaround. The hurricanes that hit Florida and Texas also trimmed profit during the quarter ending on Oct. 28, the company said.