Bloomberg Nordstrom Inc said poor inventory planning at its off-price Rack stores dragged on revenue growth in the third quarter, a problem company executives said they were working to address heading into the holiday season. Sales at the Rack division were 8% below where they were before the pandemic. Revenue at the company overall was down 1% in the same …

Bloomberg Retailers say shoplifting is getting more brazen in the US: A California Nordstrom store was recently hit by a flash mob of more than 80 people who made off with designer goods, while more than a dozen people pilfered from a Louis Vuitton location in a suburb of Chicago. The impact of shoplifting reached Wall Street, with Best Buy …

Bloomberg Gap Inc lowered its projection for 2021 sales and profit as supply-chain bottlenecks led to lost sales and higher expenses. The shares fell in trading. Gap now sees revenue growing about 20% for the full year — down from its previous projection of a 30% gain. Analysts had projected revenue to be 28% higher this year, according to estimates …