What: Nordstrom soberly looks to the second half of 2022 with decreased guidance following their most recent report.

Why it is important: While Nordstrom has seen solid Q2 earnings, the decelerating consumer demand has led the company to lower its 2022 forecast.

The report is viewed by media outlets as more hopeful than Target, Kohl’s and Macy’s reports that showed inventory gluts and revised downward forecasts for 2022 overall. The Nordstrom offering of higher-end merchandise and apparel for office work, special occasions and going out has been seen as a benefit to operating at a stable level during the economic downturn.

Nordstrom highlighted capital investments, primarily in supply chain and technology capabilities, and priorities in reducing leverage and returning cash to shareholders. Net sales in the second quarter reached 3.99 billion USD, a 12% increase from 3.57 billion USD in the year-ago period.

Nordstrom revised its 6% to 8% revenue growth to 5% to 7% for 2022 overall.

Nordstrom reports 12% total company sales increase