Despite this, the company has lowered its full-year forecast amid slowing consumer demand.
“We are adjusting our plans and taking action to navigate this dynamic in the short term, including aligning inventory and expenses to recent trends, and we remain confident in our ability to deliver on our long-term strategic and financial goals,” said CEO Erik Nordstrom. “We delivered solid results in the second quarter, with topline growth, increased profitability and continued progress in our strategic initiatives,” he continued.
“As we look to the second half of the year, we are aggressively right-sizing our inventory while investing in supply chain and merchandising capabilities that will benefit us in 2023 and beyond,” said Pete Nordstrom, President and Chief Brand Officer.
