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Nordstrom fails to impress on Q3 earnings, slashes full-year profit outlook

Yahoo Finance Video

Yahoo Finance's Akiko Fujita discusses the move in Nordstrom stock after earnings.

Video transcript

AKIKO FUJITA: Well, let's take a look at shares of Nordstrom, under pressure in this session, down nearly 6% after the Seattle-based retailer failed to impress in its most recent quarter. The company saw net sales fall nearly 3%, partly because of that shift in the timing of its annual anniversary sale. Digital sales also fell roughly 16 and 1/2%. Now those declines prompted the firm to trim its profit forecast for the fiscal year ending in January. The company said it expects deep discounts to continue into this holiday quarter, as it looks to clear out excess inventory, something we have heard from so many retailers.