THE VIRGINIAN-PILOT
Copyright (c) 1997, Landmark Communications, Inc.
DATE: Wednesday, January 1, 1997 TAG: 9701010432
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 16 lines
Nordstrom Inc. shares fell as much as 8.7 percent following the retailer's report late Friday that its fiscal fourth-quarter earnings will be lower than expected because of slow sales during the holiday season. The department-store chain said sales at stores open at least a year declined moderately during the holiday from a year ago. It attributed the drop to a shopping season that had five fewer days than in 1995. Nordstrom is the first large company to report that its holiday sales were lower than last year, when holiday sales rose only 2 percent. (Bloomberg Business New)