Nordstrom Stocks Tumble as Investors Balk at Retailer’s 5-Year Plan

In The Daily Scoop by Lauren Parker, Accessories Magazine

Nordstrom has some lofty goals over the next five years and some investors don’t seem to think they’re feasible. Shares of the department store retailer fell on Tuesday morning by as much as 6% after the company issued new guidance that anticipates net sales will grow between 3% and 4% on an average annualized basis from 2017 to 2022. Nordstrom also reaffirmed its annual outlook for the year with expectations to rake in net sales of between $15.2 billion and $15.4 billion. The company anticipates comparable sales will increase between 5% and 1.5%. The company also formally announced it will expand the merchandise-free Local concept with two more stores opening this fall in the Los Angeles area.

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