Nordstrom cut costs and boosted earnings in a third quarter that saw traditional full-line store sales slip and its urban strategy enter a next phase in Manhattan.
Nordstrom has opened the doors to its first-ever flagship store for women and children in New York City. Located at 225 West 57th Street, across from the men’s store which launched in 2018, the new store occupies the base of Central Park Tower. Customers can shop 320,000-square-feet of retail space across seven levels.
Nordstrom will continue its expansion in New York City by adding two more service hubs under its Nordstrom Local concept.
Nordstrom has named Teri Bariquit chief merchandising officer. In this newly created role, Bariquit will serve as a member of the company’s executive team, leading the full-price and off-price merchandising areas. She will report to co-president, Pete Nordstrom.
It was a mixed second quarter for Nordstrom, as the department and off-price retailer’s earnings beat its expectations while net sales declined.
The Nordstrom Anniversary Sale, the retailer’s biggest sale of the year, launches Friday, July 19.
Nordstrom reported that its net sales decreased 3.5% for the first quarter. The company said its top-line results were impacted by three areas— loyalty, digital marketing and merchandise— which contributed to declines across its full-price and off-price businesses, in both stores and online.
At a time when retailers are looking at new ways to reach urban customers, Nordstrom will continue to expand its presence in New York City this fall by opening two Nordstrom Local neighborhood service hubs.
Nordstrom reported a mixed fourth quarter, as earnings received a boost from corporate tax reform while net sales decreased.
Nordstrom has reported a comparable sales increase of 1.3% for the nine weeks ended January 5, 2019, highlighting the strength of its Nordstrom Rack off-price store division during the holidays.
Blake Nordstrom, co-president of Nordstrom, died January 2, at the age of 58.
Nordstrom’s third quarter earnings were impacted by a credit-related charge while the department store retailer kept sales relatively steady year over year.
The Nordstrom promotional theme for the holidays is “Let’s Go Gifting,” which overlays a marketing campaign the retailer characterized as a whimsical narrative full of personality.
Nordstrom hosted a company-wide hiring day on Friday, October 19, with events taking place in every Nordstrom and Nordstrom Rack store across the U.S. and Canada, as well as in its distribution and fulfillment centers.
Nordstrom is expanding its Local retail service concept in the Los Angeles area.
Nordstrom has revamped its customer loyalty program with the launch of The Nordy Club, which will debut this fall.
Kvell Home, a brand of the FHE Group, has launched a new line of wall clocks on Nordstrom.com.
The second quarter was a strong one for Nordstrom as growth in sales and net earnings led the company to raise its outlook for the remainder of its fiscal year.
Nordstrom has appointed Edmond Mesrobian as chief technology officer.
In support of its growth strategy and continued focus on connecting the physical and digital shopping experience for customers, Nordstrom is expanding its Local smaller format retail concept.