Published by Fashion Network on 4 March 2020

Nordstrom Inc forecast a 2020 profit largely below market expectations on Tuesday, after the upscale apparel retailer missed estimates for fourth-quarter revenue, sending its shares down nearly 8% in after-market trading.

The company also said on Tuesday that Erik Nordstrom would be its sole chief executive officer, as it moves away from its co-president structure.

The Seattle-based company, like other brick-and-mortar retailers, has been struggling to retain market share at a time of intense competition from online players like Amazon.com Inc and discount retailers like TJX Cos Inc's Marshalls and T.J. Maxx chains. [...] download full article below

Full Article : Nordstrom clocks fourth-quarter sales miss, Erik Nordstrom named sole CEO