Comment on Nordstrom results show Americans are hunting for discounts

Nordstrom results show Americans are hunting for discounts

Nordstrom Rack, Nordstrom's off-price retailer, reported an 8.8% rise in sales in the most recent quarter. Shoshy Ciment/Business InsiderNordstrom Rack's net sales increased 8.8% in the most recent quarter as consumers turned to discounts.Discount retailers have seen growth as Americans cut back on spending.This slowdown has slammed some areas of the retail sector.Evidence is mounting that US shoppers are becoming more savvy about their purchases, and it looks like Nordstrom Rack is reaping the benefits.The discount outlet and sister brand of the Seattle-based luxury department store — Nordstrom — saw an 8.8% increase in net sales in the most recent quarter on Tuesday, following on from strong results in the quarter before.

 

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