Nordstrom reported a better-than-expected fourth quarter, helped by surging sales at its off-price Nordstrom Rack banner, called “the growth engine” of the company.
Discount and dollar store growth has created a new category for retail competition, placing a bigger emphasis on price and convenience than ever before.
Ross Stores easily topped expectations for its fourth quarter, but warned that housing, food and gasoline costs continue to put pressure on its customers.