Nordstrom cuts outlook as bad news piles up for retailers
Jan 23, 2023
NEW YORK (AP) — Shares of Nordstrom are slipping in early trading after the upscale department store chain cut its annual profit outlook amid lackluster holiday sales that forced it to slash prices.
The disappointing report is the latest evidence that shoppers, including the well-heeled, have pulled back buying during the critical holiday season as they confront higher prices and borrowing costs. Read more at APNews.
I would suggest Nordstroms is not a high end retailer based on my visit to the store at Perimeter Mall here in Atlanta last week. What a dismal experience I had. The brands on average were like shopping at a discount department store. I had a similar experience at Von Mauer as well.
It all bodes well for my boutique business. Sad to see whats happening to the big guys though.