Analysts Call Nordstrom a ‘No-Growth Retailer’
Analysts at UBS researched the state of Nordstrom, and what they found wasn’t great. The retailer and its off-price unit, Rack, are losing customers and sales, leading UBS to dub it a “no-growth retailer.”
The report said the retailer is losing customers to lower-price retailers on special occasion apparel. It also loses customers who are looking for casual clothing. But all is not lost yet.
UBS identified two areas for potential improvement — better loyalty program execution in the second half of the year and a new fashion cycle that could drive sales — but called that “a low probability scenario.” The report follows a lowered outlook from S&P Global in May.
Read more at Retail Dive.