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- Nordstrom’s CEO, however, warned there is still a lot of uncertainty in the market. “noticeable decline” Sales trends for the last month.
- The retailer, which is weighing a plan by its founding family to take it private, also reported higher-than-estimated third-quarter results.
- Nordstrom’s president Pete Nordstrom has said that his company is committed to establishing a sustainable future. “well-positioned for a successful holiday season.”
Nordstrom, the department-store chain (JWN), on Tuesday raised its low-end projections for full-year sales. However, it cautioned that there is still a lot of uncertainty. “noticeable decline” Sales trends for the last month.
The retailer, which is weighing a plan by its founding family to take it private, also reported higher-than-estimated third-quarter results.
“While we are excited about and well-prepared for the holiday season, there was a noticeable decline in sales trends towards the end of October,” Alpha Sense provided a transcript from the earnings conference call of Chief Executive (CEO), Erik Nordstrom.
Nordstrom reported a slight increase in revenue for the third quarter, to $3.46 Billion. The net profit was $46 Million compared with $67 MILLION in the previous period. According to Visible Alpha’s polled analysts, the results exceeded revenue expectations of $3.35billion and net income estimates of $33.9m.
Nordstrom raises its lower level in the Outlook Range
The retailer also increased the lower end of their projections on growth.
"Our actions throughout this year have led to this moment, and we feel well-positioned for a successful holiday season and look forward to helping our customers celebrate the moments that matter,” Pete Nordstrom, the company's president, said in a statement.
Nordstrom said its full-year comparable store sales would be in a range of 1% to 2%, versus the flat to 2% growth range it announced in August. Full-year revenue is projected within a range of flat to up 1%, versus 1% decline to 1% growth previously.
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