Nordstrom (JWN) September Comps Down 9.6%, Lowers Guidance
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Nordstrom, Inc. (NYSE: JWN) September same-store sales decreased 9.6%. Total sales were $718 million, down 5.8%.
Nordstrom now expects to deliver third quarter earnings per share of $0.32 to $0.37, which is below its prior outlook of $0.49 to $0.54.
President Blake Nordstrom said, "In September we experienced a weakening sales trend that was greater than our earlier expectations. We are monitoring business trends carefully and making the appropriate adjustments. As a result, we believe our inventories, expenses and capital expenditures are well-positioned for current economic conditions. We remain focused on serving our customers and offering a balanced merchandise offering."
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