Nordstrom Balances Strong Holiday Sales And Competition, Analysts Highlight Margin Pressure

1. Nordstrom raised fiscal 2024 revenue guidance after better-than-expected sales. 2. Same-store sales increased by 5.8%, exceeding expectations of a 3.5% decline. 3. Company reported 4.9% total net sales growth, surpassing a forecasted decline. 4. Analyst believes Nordstrom Rack has growth potential in the off-price market. 5. Management remains cautious amid potential gross margin pressure and economic conditions.