After reportedly mulling a spinoff of its off-price Rack business, Nordstrom is now pinning its growth ambitions on it, CEO Erik Nordstrom said during the Telsey Advisory Group fireside chat on Tuesday.
In a client note Tuesday, Telsey analysts called Rack’s improvements essential, and agreed that a focus “for increasing profitability is improving trends at Nordstrom Rack.” The company’s overall results of late have been encouraging, but “visibility [is] still challenging against macro pressures in the space,” analysts led by Dana Telsey also said.
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