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Nordstrom shares slide after earnings show a surprise area of weakness

Nordstrom Inc., known for its high-end department stores, reported first-quarter earnings that showed strength online but weak same-store sales across both full-line and off-price channels. “In off-price, sales were slightly below our plan reflecting outsized digital growth offset by Nordstrom Rack stores’ performance,” said Nordstrom’s (JWN)  Chief Financial Officer Anne Bramman on the earnings call, according to a FactSet transcript. Nordstrom is also opening a full-line department store in New York in 2019 after opening a men’s store in the city this past quarter.