So much for the idea that retailers that cater to the affluent are immune to the industry’s tosses and turns.
Nordstrom (jwn, -10.84%) on Thursday reported comparable sales at its full service department stores fell 6.4% in the first fiscal quarter, news that followed awful numbers from Macy’s (m, -3.04%) and merely bad results from Kohl’s (kss, -1.80%) earlier in the day.
The poor showing at its brick-and-mortar luxury stores stood in contrast to its terrific results online, where sales rose 10.9% in its main brand, though not enough to mitigate the store losses. At Nordstrom’s Rack chain, comparable sales fell a tad, but the chain’s online brands, which include HauteLook, soared.
Still, overall, Nordstrom’s comparable sales fell…