Nordstrom's Q3 sales drop 16 percent

Nordstrom, Inc. has announced that its third quarter results reflected sequential improvement in sales and earnings relative to the prior quarter. The company generated EBIT of more than 100 million dollars, supported by improved merchandise margin trends and benefits from resetting its cost structure. Earnings per diluted share were 34 cents, while the company’s net sales decreased 16 percent from last year and included a positive impact of approximately 10-percentage points due to the shift of the Nordstrom Anniversary Sale from the second quarter to the third quarter this year.