Speaking at the Morgan Stanley Consumer & Retail Conference, Nordstrom’s CFO Michael Maher said that, "So we did reaffirm our annual guidance on our Q3 earnings call… the high end of the range assumed that we would see holiday sales build and customer demand build, consistent with what we used to see pre-pandemic. So really accelerating as you get closer to Christmas. And that the level of promotional intensity would be consistent with what we saw late October, early November. The low end of the range assumed that the softness that we saw in late October, early November in the demand would be more of a persistent thing throughout the quarter and that the promotional intensity would be [ ] than what we were seeing at that time. So at this point, we’re seeing the demand build a little bit slower and the promotional intensity is a little bit higher than what we saw pre-pandemic levels. But I think it’s important for us to emphasize that about 2/3 of our expected volume is still in front of us for the fourth quarter. So a lot is going to depend on how the next few weeks play out for us."
Published first on TheFly
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