May 11 Nordstrom Inc reported
weaker-than-expected quarterly same-store sales as fewer people
visited the apparel retailer's stores in the United States,
sending its shares down 3.7 percent after the bell.
Rivals Kohl's Corp and Macy's Inc also posted
bigger-than-expected declines in quarterly sales earlier on
Thursday, underscoring department store operators' struggles
amid sluggish demand for discretionary items like apparel and an
inability to retain shoppers who are moving online.
Nordstrom reported a 0.8 percent decline in its
comparable-store sales for the first quarter ended April 29,
compared with flat sales expected by analysts polled by research
firm Consensus Metrix.
The company's net income rose to $63 million, or 37 cents
per share, from $46 million, or 26 cents per share, a year
Nordstrom's net sales rose 2.7 percent to $3.28 billion,
helped by strong demand at its off-price stores, Nordstrom Rack,
and its website.
(Reporting by Gayathree Ganesan in Bengaluru; Editing by Maju