What: Nordstrom Inc. reported a net earnings of USD 67 million for Q3, a significant improvement from a net loss of USD 20 million in Q3 2022.

Why it is important: The profiitable Q3 report provides insights into Nordstrom’s strategies, challenges, and priorities for improvement in the retail industry.

This was attributed to improved execution and a positive impact from the timing of their Anniversary Sale. Net sales decreased by 6.8% and GMV decreased by 7.1%, with a negative impact from the wind-down of Canadian operations.

Nordstrom's priorities include improving Rack, increasing inventory productivity, and optimizing the supply chain. They see opportunities for growth in their Rack stores and plan to enhance the assortment of great brands at great prices. The company aims to curate the offer using data capabilities and deliver a strong holiday season with a relevant assortment of brands and products. Nordstrom's women's business is a focus area for improvement, with investments in their own label program.

Nordstrom Inc. goes into black for Q3