Editor
Nordstrom Inc slashed its annual profit forecast after heavy discounting failed to sway people shopping at its off-price Rack stores, leading to weak holiday sales and pushing its shares down 6 percent in after-hours trading on Thursday.
The company said it now expected annual revenue growth to be at the low end of its previous expectation of 5 percent to 7 percent. Net sales at Nordstrom Rack fell 7.6 percent in the nine weeks to Dec. 31,…
