Nordstrom stock tanks after retailer lowers outlook for the year
August 23, 2022 at 16:33 PM EDT
Nordstrom Inc. stock fell more than 10% in the extended session Tuesday after the retailer beat expectations for its second quarter but called for lower sales and profit for the year, warning that foot traffic dropped "significantly" in June, particularly in its discount Nordstrom Rack stores, and that its inventories need tweaking.