From CNBC: 2024-05-30 17:34:41

Nordstrom’s Q1 earnings fell short, with revenue of $3.34 billion and loss per share of 24 cents. Shares dropped 7% in extended trading. The off-price chain Nordstrom Rack outperformed, showing 7.9% comparable sales growth. Nordstrom plans to open 22 new Rack stores this year. Activewear sales drove growth in the quarter.

The company reaffirmed full-year earnings guidance of $1.65 to $2.05. Nordstrom posted a net loss of $39 million in Q1, with sales growth in activewear, kids’ and women’s apparel, and beauty products. The family is reconsidering taking the company private after forming a special committee to evaluate bids. Former chairman Bruce Nordstrom recently passed away. Nordstrom, like other department stores, is focusing on attracting younger shoppers.



Read more at CNBC: Nordstrom (JWN) Q1 2024 earnings