November 2023

Updated Nov. 21 6:14 p.m. Despite declining sales volumes across all channels, Nordstrom Inc. went into the black for the third quarter ended Oct. 28, because of improved execution. The Seattle-based retailer on Tuesday reported third-quarter net earnings of $67 million, or earnings per diluted share of 41 cents, in comparison with a net lack of $20 million, or 13 cents, within the year-ago period. Earnings before interest and taxes were $102 million, in comparison with $3 million within the year-ago period. Net sales decreased 6.8 percent versus the identical period in fiscal 2022. Gross merchandise value decreased 7.1 percent. Third-quarter net sales include a 270 basis point negative impact from the wind-down of Canadian operations. The timing of Nordstrom’s Anniversary Sale, with one week shifting from...