Nordstrom shares sink after retailer posts weak holiday sales

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Shoppers exit Nordstrom at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania.

Mark Makela | Getty Images

Shares of Nordstrom fell Thursday, after the department store chain said it was hurt by weak sales and a lot of markdowns during the holiday season.

The retailer said net sales dropped 3.5% for the nine-week holiday period that ended Dec. 31 compared with the year-ago period. Net sales decreased 1.7% for its namesake banner and 7.6% for its off-price banner, Nordstrom Rack.

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