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Nordstrom reports a revenue beat but issues a caution for potential declines in 2024, leading to a fall in shares. The company forecasts muted revenue and sales growth due to sluggish demand at its high-end stores. Foot Locker surpasses sales expectations but faces stock dives as full-year profit outlook misses, attributed to heavy promotions and holiday-quarter losses.
$JWN (-11.1% pre) Nordstrom shares fall 10% as retailer warns of potential sales declines in 2024 - CNBC https://t.co/vExJWbqOTo
$FL (-14.0% pre) Foot Locker shares drop more than 10% after heavy promotions lead to holiday-quarter losses - CNBC https://t.co/WwNxuVLNTk
Foot Locker delivers improving trends but talks down 2024 calling it 'cash rebuilding year'. Playbook we're seeing across retail. Stocks running big into reporting leave no incentive to guide aggressively despite solid trade $FL $ROST $TGT $HD $TJX $XRT https://t.co/oQWFFD7QPC