Nordstrom beats holiday sales forecasts, CFO departs for Starbucks

Robert Besser
07 Mar 2025, 21:54 GMT+10

Nordstrom delivered stronger-than-expected holiday-quarter sales and announced a leadership shakeup, with Chief Financial Officer Cathy Smith set to leave for Starbucks
Smith, 61, who has been Nordstrom's CFO since 2023, will take on the same role at Starbucks
Nordstrom, which is in the process of going private in a US$4 billion deal with Mexican retailer Liverpool, posted fourth-quarter comparable sales growth of 4.7 percent, well above Wall Street’s estimate of 1.25 percent, according to data from LSEG

SEATTLE, Washington: Nordstrom delivered stronger-than-expected holiday-quarter sales and announced a leadership shakeup, with Chief Financial Officer Cathy Smith set to leave for Starbucks.

Smith, 61, who has been Nordstrom's CFO since 2023, will take on the same role at Starbucks. The department-store chain said it has begun the search for her successor.

Nordstrom, which is in the process of going private in a US$4 billion deal with Mexican retailer Liverpool, posted fourth-quarter comparable sales growth of 4.7 percent, well above Wall Street's estimate of 1.25 percent, according to data from LSEG.

"Customers responded positively to the strength of our offering across both banners in the fourth quarter," said Chief Executive Officer Erik Nordstrom.

The company reported a 23 percent increase in net earnings to $165 million for the quarter ended February 1 but said it would not provide an annual forecast due to the ongoing transaction.

Nordstrom had initially planned to report its fourth-quarter results after the market closed on March 4.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Baton Rouge Post.

More Information

null in null

Business

Section

Meta wins lawsuit in California court over AI use of authors’ books

SAN FRANCISCO, California: A U.S. judge has dismissed a copyright lawsuit filed by 13 authors against Meta Platforms, the company that...

From 2028, top earners in Oman will face 5% income tax

DUBAI, U.A.E: Oman is set to introduce a personal income tax as part of its strategy to reduce dependency on hydrocarbon revenues....

U.S. stocks surge despite Trump rift with Canada

NEW YORK, New York - U.S. President Donald Trump dropped a bombshell on Friday announcing he had terminated trade talks with Canada....

United Steelworkers Union chief slams Trump over IRA move

Federal officials, then-Governor of Indiana Eric Holcomb, union leaders, company representatives, and dozens of guests assembled at...

Rent freeze fears hit NYC banks, landlords as Mamdani leads

NEW YORK CITY, New York: New York City's financial markets reacted sharply this week as shares of local banks and real estate investment...

Starbucks refutes media report on plans to exit China

SEATTLE, Washington: U.S. coffee company Starbucks has said it is not planning to sell all of its business in China, even though a...

World

Section