Nordstrom shares tumble as 2021 sales outlook disappoints, retailer sees bigger shift to Rack


Nordstrom shares tumbled Thursday as the department store chain delivered a disappointing sales outlook for the year, and said it plans to shift more of its business toward off-price.

“We continue to believe that Nordstrom has the potential to take profitable market share over time, as we see the business as well-positioned relative to peers,” Telsey Advisory Group founder Dana Telsey said in a note to clients ahead of Thursday’s meeting. “In our view, Nordstrom continues to operate in an off-price channel that has legs for growth… and a profitable digital presence that continues to grow.”

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