The Amazon effect: The Internet giant has so revolutionised shopping habits that it has conditioned shoppers to expect deeper discounts than brick-and-mortar stores can afford, spelling trouble for traditional retailers.
BENGALURU: Nordstrom Inc cut its forecast for full-year sales and profit after reporting weaker-than-expected first-quarter results that were hurt by the roll out of a new loyalty programme and slow sales of full-priced women’s clothing.
Shares of the department store operator tanked more than 9% in post-market trading.
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