- Nordstrom Inc said on Tuesday a 37% surge in online sales helped the upscale department store top analysts’ earnings expectations and boost confidence about its holiday performance despite a more competitive, promotional playing field.
On a conference call with analysts, however, company executives said they expect a percentage decline in fourth-quarter net sales in the low 20s range versus market estimates of a decline of about 11%. The company also expects shipping charges and premium holiday pay to hurt earnings. Shoppers staying home to curb the spread of the virus found themselves purchasing activewear, home decor and beauty products as opposed to upscale apparel and formal work attire.
How much stimulus money did they get, while small businesses got screwed?
Congratulations on “topping” estimates than are 70% lower year over year and with massive losses for 2020 Q2 and Q3. Well done. 🤣