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Nordstrom feeling bullish
Nordstrom Inc. on Thursday reported second quarter earnings that exceeded Wall Street estimates, and also lifted its full-year earnings outlook. The upscale department store profit’s fell to $117 million, or $0.67 per share, from $211 million or $0.1.09 per share in the year-ago period. Analysts had expected earnings of $0.56 per share. -
Macy’s in big store closing move
Macy’s Inc. announced that it will close 100 full-line namesake stores as part of a wider effort to improve its business and succeed in an omnichannel environment. The move comes after six straight quarters of declining same-store sales. The department store giant said it plans to concentrate its resources on the best-performing locations, and to invest in those stores by adding new vendor shops, increasing the size and quality of staff and new technology.