Robert Besser
07 Mar 2025

SEATTLE, Washington: Nordstrom delivered stronger-than-expected holiday-quarter sales and announced a leadership shakeup, with Chief Financial Officer Cathy Smith set to leave for Starbucks.

Smith, 61, who has been Nordstrom's CFO since 2023, will take on the same role at Starbucks. The department-store chain said it has begun the search for her successor.

Nordstrom, which is in the process of going private in a US$4 billion deal with Mexican retailer Liverpool, posted fourth-quarter comparable sales growth of 4.7 percent, well above Wall Street's estimate of 1.25 percent, according to data from LSEG.

"Customers responded positively to the strength of our offering across both banners in the fourth quarter," said Chief Executive Officer Erik Nordstrom.

The company reported a 23 percent increase in net earnings to $165 million for the quarter ended February 1 but said it would not provide an annual forecast due to the ongoing transaction.

Nordstrom had initially planned to report its fourth-quarter results after the market closed on March 4.