Nordstrom joins Dick’s Sporting Goods, Ulta Beauty, and Target in attributing theft to a drop in sales.
The company attributed the losses to “organized retail crime and our ability to effectively manage inventory shrink.”“violence or threats of violence” surged 120%“Our team continues to face an unacceptable amount of retail theft and organized retail crime,” Cornell said during the company’s second-quarter earnings call.
The National Retail Federation, the nation’s largest retail trade group, said its latest security survey of roughly 60 retailers found shrink clocked in at an average rate of 1.4% last year, representing $94.5 billion in losses. “We continue to see a cautious consumer,” said Nordstrom finance chief Catherine Smith, adding sales slowed at both its eponymous stores and off-price Nordstrom Rack banner during the third quarter.
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Nordstrom's results reflect cautious consumer spending, echoing department store sector blues.Nordstrom says its sales and profits fell in its fiscal second quarter, joining its department store peers coping with shoppers' cautious spending.
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Nordstrom's results reflect cautious consumer spending, echoing department store sector blues.Nordstrom says its sales and profits fell in its fiscal second quarter, joining its department store peers coping with shoppers' cautious spending.
Lire la suite »