Nordstrom Falls 10% on Muted Full-Year Revenue Outlook
- Retailer plans to open more than two dozen Rack stores
- Discount chain is outperforming the namesake department stores
A Nordstrom Rack store in New York.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
Nordstrom Inc. is forecasting muted revenue and comparable sales growth this year as sluggish demand at its high-end namesake stores offsets an improving outlook at its off-price Rack stores.
The department-store operator said on Tuesday it has plans to open more than two dozen Rack locations within the next year or so, including in San Diego, Omaha and Houston, while also boosting online sales at the Nordstrom banner.