Nordstrom sees Q3 same store sales below 2-3% vs +2.2% estimate The company Q4 same store sales in-line with 2-3% vs +4% estimate (prior 2H guidance for comps below 3-5%) Sales trends throughout JulQ showed moderate improvement relative to the first two months of the year but remained softer than anticipated. The impact of this was mitigated by disciplined execution of inventory and expenses, including a reduction in variable expenses associated with company performance. The Anniversary Sale, which historically is the co's largest sale event of the year, occurred in Q2, while last year it overlapped Q2 and Q3. This event shift resulted in a favorable comparison, which the co expects will be offset by an unfavorable comparison in Q3. In Q2, the impact of the Anniversary Sale event shift increased same-store sales by approximately 250 basis points and increased EPS by approximately $0.06.
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