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BRIEF-Nordstrom on conf call- FY forecast assumes continuation of negative trends in full-line stores offset by upsize online growth
February 23, 2017 / 10:29 PM / 7 months ago

BRIEF-Nordstrom on conf call- FY forecast assumes continuation of negative trends in full-line stores offset by upsize online growth

Feb 23 (Reuters) - Nordstrom Inc

* On conf call- “early in the year our team took aggressive steps to realign inventory in response to changes in customer demand”

* On conf call- Q4 sales growth outpaced inventory growth by nearly 500 basis points.

* On conf call- five full-line stores in Canada contributed total sales of $300 million in 2016

* On conf call- full year forecast assumes continuation of negative trends in full-line stores offset by upsize online growth

* Exec- “ we have roughly 120 full-line stores today, all of them make money they all cash flow positive and we have overall very healthy fleet of stores”

* Exec- over the next 5-10 yrs there’s some stores in older centers that we think we can close and consolidate into stores nearby that we are investing in

* Exec- “we’re definitely interested in doing less promotional business and in some cases that means not be doing business with some vendors so that’s an ongoing thing” Further company coverage:

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