Nordstrom, Inc. (NYSE:JWN) Q4 2022 Earnings Call Transcript

Pete Nordstrom: Yes. With turn, I mean, I think the blanket answer is we have room to improve across the board but if I’m to choose or probably the biggest opportunity is I’d say the Rack all up across all categories, I’d say probably particularly in apparel, — there’s a version of that also in the Nordstrom banner, I would say, apparel is probably the one. And the reason I’d say that is probably the most perishable stuff that we have in terms of its seasonality and what have you. So — there’s opportunity across the board. And what we’ve done is we’ve gone back in context through historical best and turns and how that impacts our markdown rates and our margins and really not use last year as a guide, but really kind of starting at the Belton best that we had and planning accordingly. And so yes, again, I think the answer is across the board.

Oliver Chen: That’s okay. Thank you.

Sara Penner: We want to thank you for joining today’s call. A replay, along with the slide presentation and prepared remarks, will be available for one year on our website. Thank you for your interest in Nordstrom.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time, and we thank you for your participation.