The move, which may catch many merchants in the region by surprise, reflects ByteDance’s objective of entrenching itself in the US as a way to prove its value to domestic merchants and consumers.
Shares in Nordstrom dropped nearly 5 percent in after-market trading. The company, which sells pricier clothes, shoes, and accessories, beat first-quarter revenue expectations.
The company’s turnaround strategy to lower promotions and focus on right product assortment is yielding results after weak growth last year due to lacklustre demand and supply chain issues.
The company has also been expanding its own store base to boost full-price selling in its direct-to-consumer channel, where its products are sold largely above the average selling price at wholesale shops.