Nordstrom Struggles With Cautious Consumer Spending Despite Beating Estimates

Nordstrom's sales and profits fell in the latest quarter but exceeded expectations.
Sales were impacted by the timing of the anniversary sale and winding down Canadian operations.
Nordstrom maintains a cautious outlook with expected revenue declines for the year.
Sales trends have decelerated in Q3 as middle- and low-income shoppers restrict spending.
Nordstrom is focused on national brands and expanding Nordstrom Rack stores despite challenges.