Nordstrom is raking in the ‘racks’
Sanebull on Since everyone gets compared to Amazon… here is another Seattle-based company that can move merch online. That company is Nordstrom, and their second-quarter results beat Wall Street expectation by a long shot. Online sales led the surge and accounted for one-third of the company’s overall sales. Overall, digital sales were up 23%.
Everything is going great… because online sales are booming and brick-and-mortar sales are also doing well on their own. Overall revenue for the retailer jumped more than 7%. These results are worth bragging about, and the company must be happy that they decided against going private last March. After the earnings release, shares of Nordstrom were up 10% in after-hours trading.
Here’s how everyone else is doing… including Macy’s which had lackluster sales growth and brought Nordstrom down with them after the announcement. However, similar to Nordstrom, Walmart reported strong digital growth. Is it possible that digital sales and brick-and-mortar presence are the paths to the promise land?
