Nordstrom has revised its full-year sales outlook upwards, now expecting revenue growth of 1.5% to 2.5%, after a holiday season that exceeded expectations. Despite this, the company maintained its profit guidance. The holiday period, ending January 4, saw net sales increase by 4.9% and comparable sales rise by 5.8% compared to the previous year. At the Nordstrom banner, net sales grew by 3.7% and comparable sales by 6.5%. Nordstrom Rack, the off-price division, reported a 7.4% increase in net sales and a 4.3% rise in comparable sales. CEO Erik Nordstrom attributed the success to competitive efforts and a strong product offering. The company’s performance provides insights into U.S. consumer behavior during the holiday season, with online spending in the U.S. rising nearly 9% to $241.4 billion, and overall retail sales, excluding automotive, increasing by 3.8%. Nordstrom’s shares closed at $24.01, down about 4% from its 52-week high. The company will report its full fourth-quarter and full-year results on March 4.
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