Nordstrom's Full-Price Comparable Sales for Holiday Season Disappoints

SEATTLE, United States — Nordstrom said on Tuesday comparable store sales at its full-price department stores rose only 0.3 percent during the crucial months of November and December, blaming lower traffic.

The department store operator said year-to-date sales at full-price stores were below its expectation and included higher discounts taken during the holiday season and steps to adjust its inventory.

In contrast, Nordstrom said comparable sales at its off-price stores rose 3.9 percent during the nine-week ended January 5, while online sales jumped 18 percent during the period.

Nordstrom said it expects full-year adjusted profit to be in the range of $3.55 to $3.65 per share, from the prior forecast of $3.50-$3.65.

Department store retailers such as Macy's and Kohl's earlier this month reported disappointing holiday sales.

Shares of Nordstrom, which will report results February 28 after markets close, were down 3 percent in light volumes in trading after the bell.

By Soundarya J; editors: Maju Samuel and Sriraj Kalluvila.