Nordstrom and even its Rack off-price unit are losing customers and sales to lower-price rivals, according to new research from UBS analysts led by Jay Sole. The team has downgraded the department store to a "no-growth retailer," according to their report, which was emailed to Retail Dive.
Shoppers once flocked to Nordstrom for special occasion and other pricier apparel, but are now looking for wedding and other attire elsewhere, according to the report. The trend of wearing more casual clothing is also an issue for the retailer, UBS said.. . . more