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Nordstrom Q1 profit slips but tops estimates; 20 stores on tap by year-end
Seattle -- Nordstrom Inc.’s net income for the first quarter fell 3% to $140 million from $145 million in the year ago period, reflecting heavy investments in technology to support omnichannel initiatives and the retailer’s debut in Canada. Its earnings still topped Street views. The company plans to open three full-line stores and 17 Nordstrom Rack stores during the remainder of fiscal 2014
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NewMark Merrill launches technology affiliate
Woodland Hills, Calif. — E-commerce and smartphones are re-shaping brick-and-mortar shopping center industry. In recognition of that trend, NewMark Merrill Cos. has launched BrightStreet Ventures, a technology affiliate focused on developing new technology platforms.