(Reuters) – Department store chain Nordstrom Inc (JWN.N) reported quarterly sales below analysts’ expectations on Wednesday, as the upscale retailer struggled to attract shoppers to both its full-price and off-price stores.
The Seattle-based retailer said total revenue fell 5% to $3.87 billion for the second quarter ended Aug. 3, lower than the $3.93 billion expected by analysts, according to IBES data from Refinitiv.
Net earnings fell to $141 million, or 90 cents per share, in the quarter from $162 million, or 95 cents per share, a year earlier.
(This story corrects to show total revenue was $3.87 billion, which was comparable to estimates, and not net sales of $3.78 billion, in second paragraph; Corrects headline to revenue, not sales.)
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