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Within our Designer business, higher-priced luxury product significantly outperformed lower-priced product.
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2022 Q2
5 Sep 22
in the Nordstrom banner, items with lower AURs underperformed higher AURs
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2022 Q2
5 Sep 22
the softening trend was more significant in customer segments with the lowest income profiles, while we saw greater resilience in the higher income segments.
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2022 Q2
5 Sep 22
Compared to the first two months of the quarter, July sales decelerated 9 percentage points in the Rack banner
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2022 Q2
5 Sep 22
until late June, when demand began to soften, mostly in Nordstrom Rack
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2022 Q2
5 Sep 22
which we attributed to the higher-income profile of our customer base
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2022 Q2
5 Sep 22
while reporting our first quarter results, at the time, we did not see macroeconomic pressures adversely impact customer spending
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2022 Q2
5 Sep 22
we are updating our outlook for the balance of the year to reflect these softening trends and actions we are taking to reduce our inventory levels
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2022 Q2
5 Sep 22
customer demand decelerating significantly in late June, predominantly at Nordstrom Rack and in our lowest income customer cohorts
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2022 Q2
5 Sep 22
the payment rates remain elevated above what we saw pre-pandemic.
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2022 Q2
5 Sep 22
the pace of credit revenue really slowed in the quarter, Macy’s and Kohl’s had similar developments over the past couple of days.
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2022 Q2
5 Sep 22