Shoppers exit Nordstrom at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania.
Mark Makela | Getty Images
Nordstrom on Tuesday said sales slid by nearly 7% year over year, echoing other retailers’ comments about weaker demand and budget-pressured consumers.
Yet the department store operator reiterated its full-year sales outlook, saying it expects revenue to decline by between 4% and 6% versus a year ago, including retail sales and credit card revenues.
It narrowed its adjusted earnings per share forecast, saying it anticipates $1.90 to $2.10, excluding the impact of winding down its stores and online business in Canada and any potential share buybacks.