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August 15, 2008
Nordstrom Takes Q2 Hit From Weak Economy
Nordstrom reported a 20.6% drop in net income for its second quarter to $143 million. This compares to earnings of $180 million a year ago.
Despite holding two major sales in the quarter, the department store chain could not shake off the weak economic environment.
Nordstrom expects a drop in same-store sales of between 4% and 6% in the third quarter.
Posted by Blacks on August 15, 2008 09:41 AM
