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Nordstrom, Inc. (JWN) Q2 2024 Earnings Call Transcript Summary

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Nordstrom's department store Q2 discount business sales surged 9%, raising the full-year guidance, with a post-market surge of over 10% | Financial Report Insights

In the second quarter, Nordstrom's net sales exceeded expectations by 3.4%, with a 8.8% increase in the discount business, Rack. Nordstrom has revised its expected decline in annual revenue from 2% to 1%, with revenue guidance still expecting a 1% growth at the upper end. Executives stated that typically two-thirds of the company's profits come from the second half of the year, and the environment remains uncertain, maintaining caution for the second half performance.

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