default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Nordstrom Raises Revenue Forecast as Customers Return to Stores

Nordstrom Rack's Herald Square store in New York City. Getty.
Nordstrom Rack's Herald Square store in New York City. Getty. (Drew Angerer)

Nordstrom Inc raised its fiscal 2021 revenue forecast on Tuesday, as Americans buy more apparel and footwear at its stores following the easing of coronavirus restrictions.

The resumption of social gatherings, school and college has encouraged people to splurge on everything from tops to dresses, emptying inventories of clothing chains and helping department store chains rebound from last year’s slump.

Nordstrom said it expects revenue to rise over 35 percent in fiscal 2021, compared with more than 25 percent forecast previously. Analysts on average expect revenue to jump 29 percent, according to Refinitiv IBES data.

Revenue rose to $3.66 billion in the second quarter, from $1.86 billion a year earlier, beating market expectations.

By Praveen Paramasivam; Editor: Aditya Soni.

Learn more:

Neiman Marcus ‘Reintroduces’ Itself to Customers In New Campaign

The American department store, which emerged from bankruptcy in 2020, is intent on convincing shoppers it is the premiere retail destination as people reenter the world.

In This Article
Topics
Organisations

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Chronicle the ‘Retail Apocalypse’ and emerging retail models, including DTC brands.

In a partnership with resale service provider Reflaunt, the global logistics giant now offers a fulfilment, shipping and platforming solution for brand clients interested in entering the secondhand space.




While GU, with slightly lower prices than Uniqlo and clothes aimed at younger clientele, has a solid presence in Japan, it’s less known in other major markets. Building its presence abroad is part of Fast Retailing founder Tadashi Yanai’s push to “become a true global player,” by first doubling annual profit to ¥5 trillion within a few years.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024