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Fashion Jobs
H&M
Area Manager - Vietnam
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Manager Quality Continuous Improvement Footwear
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Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Crescent Mall
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3pl Business Expert - Warehouse Operations
Permanent · BIEN HOA
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Distribution Center Manager
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Store Department Manager (Quản lý Ngành Hàng Tại Cửa Hàng) - đà Nẵng Based
Permanent ·
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Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Vincom Ocean Park
Permanent · HANOI
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Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Aeon Mall hà Đông
Permanent · HANOI
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Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Aeon Mall hà Đông
Permanent · HANOI
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Department Manager (Quản lý Ngành Hàng) - Khu Vực Ocean Park Gia Lâm
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Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Crescent Mall
Permanent · HO CHI MINH CITY
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3pl Business Expert - Allocation
Permanent · BIEN HOA
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Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Mega Mall Royal City
Permanent ·
H&M
Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Vincom Times City
Permanent · HANOI
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Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Aeon Mall Tân Phú
Permanent · HO CHI MINH CITY
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Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Tại Vincom Plaza hạ Long
Permanent · HẠ LONG
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Visual Merchandiser (Phụ Trách Trưng Bày Làm Việc Tại Cửa Hàng) - hà Nội Based
Permanent · HANOI
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Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Times City
Permanent · HANOI
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Visual Merchandiser (Phụ Trách Trưng Bày Sản Phẩm) - Khu Vực Ocean Park Gia Lâm
Permanent · HANOI
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Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Mega Mall Royal City
Permanent · HANOI
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Visual Merchandiser (Phụ Trách Trưng Bày Làm Việc Tại Cửa Hàng) - hồ Chí Minh Based
Permanent · HO CHI MINH CITY
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Nhân Viên tư Vấn Bán Hàng Khu Vực Royal City - hà Nội (Bán Thời Gian và Toàn Thời Gian)
Permanent · HANOI
By
Reuters
Published
Nov 24, 2021
Reading time
2 minutes
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Nordstrom warns of supply shortages as holiday season approaches, shares plunge

By
Reuters
Published
Nov 24, 2021

Nordstrom Inc said labor costs pinched its quarterly profit and warned of product shortages at its off-price stores heading into the holiday season, sending its shares down 23% in extended trading on Tuesday.


The company said third-quarter net sales at Nordstrom Rack stores fell 8% from 2019 levels-Nordstrom - Facebook: Nordstrom


The Seattle-based company, like other retailers, is under tremendous pressure to keep its shelves stocked for the holiday season as shipping logjams, shuttered factories in Asia and a scarcity of raw materials rip through global supply chains and result in product shortages.

Nordstrom Rack off-price stores have especially suffered from severe shortages of women's apparel and shoes.

The company said third-quarter net sales at Nordstrom Rack stores fell 8% from 2019 levels, at a time when rivals Macy's Inc and Kohl's Corp have returned to above pre-pandemic sales levels.

Chief Executive Officer Erik Nordstrom said the business' underperformance was due to internal decisions as much as the broader supply-chain issues.

"We have not responded as quickly and as aggressively as we needed to, with Rack in particular... we've been significantly under inventory plans all year," Nordstrom said on a call with analysts.

The company also reported a jump in costs in the quarter as it spent more on staffing its stores amid labor shortages in the United States that have forced retailers to increase wages and hand out hefty bonuses.

Nordstrom said in October it would hire more than 28,000 workers for the holiday season, offering new store employees up to $650 in incentive pay.

Nordstrom maintained its annual revenue growth forecast of more than 35%, while rival Macy's last week raised its sales expectations to as much as 40%.

The company posted a quarterly profit of $64 million, or 39 cents per share, missing estimates of 56 cents, according to Refinitiv IBES data.

Shares were trading at $24.60 and were set to post their worst day ever.

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