Robert Besser
07 Mar 2025, 21:54 GMT+10
SEATTLE, Washington: Nordstrom delivered stronger-than-expected holiday-quarter sales and announced a leadership shakeup, with Chief Financial Officer Cathy Smith set to leave for Starbucks.
Smith, 61, who has been Nordstrom's CFO since 2023, will take on the same role at Starbucks. The department-store chain said it has begun the search for her successor.
Nordstrom, which is in the process of going private in a US$4 billion deal with Mexican retailer Liverpool, posted fourth-quarter comparable sales growth of 4.7 percent, well above Wall Street's estimate of 1.25 percent, according to data from LSEG.
"Customers responded positively to the strength of our offering across both banners in the fourth quarter," said Chief Executive Officer Erik Nordstrom.
The company reported a 23 percent increase in net earnings to $165 million for the quarter ended February 1 but said it would not provide an annual forecast due to the ongoing transaction.
Nordstrom had initially planned to report its fourth-quarter results after the market closed on March 4.
Get a daily dose of Brazil Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Brazil Sun.
More InformationOP Jindal University New Delhi [India], March 7: The Jindal India Institute (JII) of the O.P. Jindal Global University (JGU) successfully...
New Delhi [India], March 7 (ANI): Prime Minister Narendra Modi has expressed gratitude to the Government and people of Barbados for...
Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, attends...
(250306) -- BUENOS AIRES, March 6, 2025 (Xinhua) -- A traffic light at a junction stops working due to a power outage in Buenos Aires,...
Buenos Aires [Argentina], March 6 (ANI): China possesses the largest fishing fleet globally, which is increasingly depleting Argentina's...
(250306) -- SAO PAULO, March 6, 2025 (Xinhua) -- Revelers attend the Galo da Madrugada (Dawn Rooster) parade during the 2025 Sao Paulo...
SEATTLE, Washington: Nordstrom delivered stronger-than-expected holiday-quarter sales and announced a leadership shakeup, with Chief...
MILAN, Italy: Prada CEO Andrea Guerra suggested this week that the Italian luxury brand is keeping its options open regarding potential...
OSLO/COPENHAGEN: Tesla is experiencing a sharp drop in sales across Scandinavia and France as shifting consumer sentiment and an aging...
NEW YORK, New York - U.S. stocks fell sharply Thursday as investors and traders struggled with Presient Trump's controversial trade...
TOKYO, Japan: Honda is making a strategic shift in its production plans, moving the next-generation Civic hybrid manufacturing from...
CINCINNATI, Ohio: Kroger CEO Rodney McMullen has resigned following a board investigation that found his personal conduct to be inconsistent...