Nordstrom reports worse-than-expected sales decline
Associated Press
SEATTLE — Luxury department store Nordstrom Inc. reported a worse-than-expected decline in same-store sales for February.
The retailer said sales in its stores open for a year or more fell 5.8 percent in the month. Analysts anticipated a drop of 3.5 percent. Nordstrom plans to open its first full-line department store in Hawaii Friday at Ala Moana Center.
Nordstrom shares fell $2.59, or 6.9 percent, to $34.75, yesterday on the New York Stock Exchange.