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Nordstrom hit by department store doldrums
Nordstrom joined Macy's this week in blaming weak traffic for its disappointing same store sales as the Seattle-based chain also lowered its full-year guidance.
Nordstrom Inc. said that for the third quarter ended Oct. 31 same store sales increased .9%. It posted earnings of 57 cents per share on $3.33 billion in revenue. And net sales increased 6.6 percent.
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Major U.S. retailers team up for Singles Day
It would take a pretty big event to cause Nordstrom, Saks Fifth Avenue, Bergdorf Goodman, Saks Off 5th, and Neiman Marcus to all align their online discount offers.
Singles Day, coming up on Nov. 11, is just that size of an event. Once an informal celebration of the Chinese singles dating scene, Chinese e-commerce giant Alibaba formally turned Singles Day into a shopping holiday in 2009. The occasion generated gross merchandise volume of more than $9.3 billion on the Alibaba Alipay mobile and digital payment platform alone in 2014.

