in October, though sales from the new opening will likely not materialize until the fourth quarter, the company said in August.
The new store received about 85,000 visits during the first weekend, the company said in its earnings release, adding that strong sales in its separate men's store topped expectations.to allow co-presidents Pete and Erik Nordstrom to raise their stake in the company. The company also mentioned that the board had talks with the two over "succession planning."
Credit Suisse analyst Michael Binetti said in a note last week that the decision "removes some downside support for the stock in the near-term." The analyst also was concerned about elevated levels of promotions across the market, which can hurt profits.
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