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 Venezuela Star 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 Venezuela Star.
More InformationNEW YORK, New York - U.S. stocks advanced on Wednesday while the U.S. dollar made across-the-board gains after the Federal Reserve...
LONG ISLAND CITY, New York: JetBlue Airways' plan to strike a domestic partnership with another U.S. airline is drawing sharp resistance...
LONDON, U.K.: Shell reported a better-than-expected first-quarter profit of US$5.58 billion on May 2, down 28 percent from a year earlier...
BANGKOK, Thailand: Thailand's finance ministry has revised its projection for foreign tourist arrivals this year, lowering the estimate...
NEW YORK, New York - U.S. stock markets retreated on Tuesday, with major indices posting losses amid renewed economic concerns, while...
WASHINGTON, D.C.: More people signed contracts to buy previously owned homes in the U.S. in March than in any month in over a year,...
GAZA STRIP - From Tuesday night to dawn on Wednesday, Israel Air Force pilots were responsible for the ending of at least forty-nine...
BRUSSELS, Belgium: Tesla's sales in Europe nosedived in April, with sharp drops across multiple countries, including an 81 percent...
AUSTIN, Texas: Over the weekend, Texas Governor Greg Abbott signed a new law that will let more than five million students use state...
WASHINGTON, D.C.: The U.S. Transportation Department says it is working to fix a significant shortage of air traffic controllers by...
WASHINGTON, D.C.: The U.S. Department of Defense wants to change its contracts so the Army can fix its own weapons instead of always...
MEXICO CITY, Mexico: Mexico is laying the groundwork to reduce its standard work week from 48 to 40 hours by 2030, Labor and Social...