As Nordstrom looks to return its full-priced banner to revenue growth, the department store chain is turning to digital technology to meet upscale shoppers’ increasing demand for convenience. The retailer announced Tuesday (Mar. 5) in its fourth quarter fiscal 2023 financial results that its premium Nordstrom banner...
Whether a retailer rang up a sales symphony or lagged behind this quarter, they all evaluated a common make-or-break factor: the significance of delivering value to the customer. And if that value didn’t strike a chord with the customer, they weren’t window shopping — they...
Nordstrom, once known for its opulent runway and exceptional service, is increasingly delving deeper into substantial discounts to navigate financial challenges. But is it working? During the third quarter, Nordstrom opened 11 new Rack stores, with an additional one introduced early in the fourth quarter,...
In March, PYMNTS reported on Nordstrom’s shift from its prior reputation of luxury and exceptional service to utilizing substantial discounts to manage inventory, resulting in decreased sales and profits during the fourth fiscal quarter. Today, has the narrative evolved? While the retailer asserts a more...
November 28, 2023
Whether a retailer rang up a sales symphony or lagged behind this quarter, they all evaluated a common make-or-break factor: the significance of delivering value to the customer. And if that value didn’t strike a chord with the customer, they weren’t window shopping — they sought a better deal elsewhere to bag the most savings […]
March 20, 2024
The U.S. retail industry may be on the brink of a significant transformation as department store chains Nordstrom and Macy’s consider a shift toward private-equity or hedge-fund ownership. These potential moves could have extensive implications for the retail sector, reshaping the landscape of the industry, Reuters reported Wednesday (March 20). Over the past decade, only […]
May 04, 2023
Nordstrom is reportedly shuttering two of its San Francisco stores amid declining foot traffic. That’s according to a Wednesday (May 3) Wall Street Journal report, which cites a number of...
January 20, 2023
Consumers pulled back on their spending during the holiday shopping season, according to Nordstrom. During the nine weeks ended Dec. 31, sales at the Nordstrom Rack discount stores slipped 7.6%...
November 23, 2022
Cost-conscious shoppers continue to shy away from Nordstrom, with the luxury retailer still feeling the effects of a paycheck-to-paycheck economy in the form of declining sales. “Nordstrom Rack Sales declined...
