Nordstrom Inc. posted a worse-than-expected sales decline ahead of the holiday season, disappointing investors who’d hoped the upscale department-store chain was bucking the mall malaise. Comparable sales, a key metric, fell 0.9 per cent in the quarter, deeper than analysts’ estimate of a 0.4-per-cent decline. Shares of Nordstrom fell as much as 7.6 per cent to $37 in late trading after the results were released. The retailer plans to hire 13,650 seasonal workers to meet demand in the holiday selling season, the company said in October. In addition to staff at its namesake and Rack stores, Nordstrom is looking for workers at fulfilment and distribution centres to support e-commerce operations.

Source: thestar November 10, 2017 16:18 UTC