What: Nordstorm is striving to provide customers with more convenient and interconnected digital and brick-and-mortar experiences.

Why is it important: Nordstrom Inc. continues to be focused and acts with urgency and sees strong evidence that its “Closer to You” strategy is working.

The agenda calls out the Rack off-price chain, the market strategy leveraging physical and digital assets to provide greater services and conveniences, and digital sales as Nordstrom’s biggest growth opportunities for the future.

Nordstrom will report its first-quarter results on May 26, but for the fourth quarter of last year the company showed progress in its strategic initiatives and efforts to recover from some merchandise and pricing misses of previous quarters, reporting a big boost in earnings to USD200 million from USD33 million in the year-ago period, while sales rose 23% to USD4.38 billion versus USD3.55 billion in the same period in fiscal 2020, and decreased 1 percent versus the same period in fiscal 2019.

For 2022, Nordstrom projects revenue growth, including retail sales and credit card revenues, of 5 to 7% versus fiscal 2021; earnings before interest and taxes of 5.6 to 6% of sales, and earnings per share of USD 3.15 to USD3.50, excluding the impact of share repurchase activity, if any.

Keeping Nordstrom focused