Nordstrom Gives More Optimistic Outlook With Rack Outperforming 

Nordstrom Inc. offered a rosier view for the current year’s sales following better-than-expected results at its discount chain, the latest indication that shoppers are pivoting to off-price options as they hunt for deals.

The Seattle-based department store operator sees comparable sales in a range of flat to rising 2%, up from from the previous projection of down 1% to up 2%. It also raised the bottom end of its revenue guidance. Sales in the second quarter narrowly beat the average estimate of analysts compiled by Bloomberg.