Earnings

Nordstrom (JWN) earnings Q1 2023

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Shoppers walk into a Nordstrom department store in Austin, Texas, March 3, 2023.

Brandon Bell | Getty Images

Nordstrom‘s fiscal first-quarter sales topped Wall Street’s expectations on Wednesday, even as the retailer reported a spending drop and predicted slower sales in the coming months.

The higher-end department store also reiterated its outlook for the full year. Nordstrom expects revenue to fall 4% to 6% and adjusted earnings per share to range between $1.80 and $2.20 for the fiscal year, excluding the impact of winding down its stores and online business in Canada.

Yet despite declining sales, Nordstrom stressed its progress with managing inventory, cutting costs and drawing shoppers,…



Source cnbc.com

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