• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 21, CNN reported that on April 20 local time, US President Trump stated in a phone interview that Iran "will negotiate" and expressed confidence in the potential talks to be held in Pakistan. Trump said, "They will negotiate, and if they dont, there will be unprecedented problems." He also expressed hope that the two sides could reach a "fair agreement" and emphasized that Iran "will not have nuclear weapons." He also defended military action against Iran, saying there was "no other choice," and that the "finishing touches" would eventually be completed.April 21 – Statistics New Zealand data shows that New Zealands first-quarter CPI rose 3.1% year-on-year, the same as the increase in the fourth quarter of last year, while economists had previously expected 2.9%. The CPI rose 0.9% month-on-month, higher than the expected 0.8%. New Zealands first-quarter inflation rate unexpectedly remained above the 1% to 3% target range before rising fuel and other costs due to the Iran war were expected to push the CPI up. The Reserve Bank of New Zealand initially estimates that the inflation rate will accelerate to 4.2% in the second quarter, while local economists expect the inflation rate to be even higher and remain above the target range until 2027. Faced with the risk that inflation could become deeply entrenched in the economy, the market widely expects the Reserve Bank of New Zealand to raise interest rates sooner than previously anticipated, with investors expecting the first rate hike as early as July.1. The three major U.S. stock indexes closed slightly lower. The Dow Jones Industrial Average fell 0.01% to 49,442.56 points, the S&P 500 fell 0.24% to 7,109.14 points, and the Nasdaq Composite fell 0.26% to 24,404.39 points. 3M fell more than 2%, and Procter & Gamble fell more than 1%, leading the decline in the Dow. The Wind U.S. Tech Big Seven Index fell 0.6%, with Facebook and Tesla falling more than 2%. The Nasdaq China Golden Dragon Index fell 0.32%, Zai Lab rose more than 4%, and Hesai Technology fell nearly 6%. 2. The three major European stock indexes all closed lower. The German DAX fell 1.15% to 24,417.8 points, the French CAC40 fell 1.12% to 8,331.05 points, and the UK FTSE 100 fell 0.55% to 10,609.08 points. 3. International precious metals futures generally closed lower. COMEX gold futures fell 0.79% to $4,841.00 per ounce, and COMEX silver futures fell 2.41% to $79.87 per ounce. 4. The WTI crude oil futures contract closed up 4.0% at $85.89 per barrel; the Brent crude oil futures contract rose 3.78% to $93.8 per barrel.April 21 - According to NBC News on April 20, the United States is expected to deploy three carrier strike groups simultaneously in the Middle East in the coming days. The report states that the USS Abraham Lincoln carrier strike group is currently deployed in the Gulf of Oman, near the Strait of Hormuz, participating in maritime blockade operations; the USS Ford carrier strike group is located in the northern Red Sea; and the USS George H.W. Bush carrier strike group, which has chosen to detour around Africa, is heading north from southeast Africa and is expected to enter the Arabian Sea—this carrier may replace the USS Ford in its mission, but in the short term, the US military may have three carrier strike groups deployed simultaneously in the Middle East.On April 21, the Ministry of State Security issued a security alert. Recently, a hidden industry chain involving AI "poisoning" has been exposed, drawing widespread public attention. This behavior of maliciously contaminating AI models not only disrupts business order and affects information dissemination, but also endangers national security. While artificial intelligence empowers various industries, its security risks cannot be ignored. Promoting ethical AI governance and safeguarding data security are not only industry responsibilities but also require the participation of the entire society.

Off-price Rack Sales Drop, Nordstrom Lowers Profit Forecast

Charlie Brooks

Jan 20, 2023 10:41

12.png


After poor Christmas sales and a 6% decline in after-hours trade on Thursday, Nordstrom Inc. (NYSE:JWN) lowered its yearly profit projection.


The company expected 5% to 7% annual sales growth. From Jan. 1 to Dec. 31, 2022, Nordstrom Rack's net sales fell 7.6%.


Americans have cut discretionary spending due to decades-high inflation, and drastic inventory cuts have affected U.S. stores.


Macy's Inc. (NYSE:M) cut its holiday sales projection earlier this month, blaming a longer-than-expected retail drop between Black Friday and Christmas. Lululemon Athletica (NASDAQ:LULU) warned of quarter margin reduction.


The National Retail Federation reported decreased Christmas sales on Wednesday because shoppers bought in October when businesses offered higher discounts.


Nordstrom is underperforming.


It had to provide more markdowns than planned, and its Rack banner is currently grappling with inventory mismanagement and merchandising concerns exacerbated by supply-chain issues during the pandemic, when women's clothes and shoes were scarce.


William Blair analyst Dylan Carden said Rack had persistent merchandising mistakes.


Nordstrom expects fiscal 2022 adjusted EPS of $1.50 to $1.70, down from $2.30 to $2.60.


Lower inflation, larger inventory, and typical freight and labor costs should assist Nordstrom and other retailers this year, analysts said.


"Going into 2023, that gives me some comfort that even if the first half is kind of mediocre, maybe it'll start to look better," Morningstar analyst David Swartz said.