(Reuters) – Nordstrom Inc cuts its annual revenue and profit forecast on Tuesday, a sign that decades-high inflation was squeezing consumer spending on its high-end clothing and footwear.
The department store chain expects fiscal 2022 revenue to rise 5% to 7%, lower than previous expectation of 6% to 8% growth.
The company also expects fiscal 2022 adjusted profit per share between $2.30 and $2.60, compared with a prior forecast of $3.20 to $3.50.
(Reporting by Mehr Bedi in Bengaluru)
