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☆ DHL plane crash: German leaders float sabotage questions
▼ + stars: | 2024-11-26 | by ( Rob Picheta | ) edition.cnn.com time to read: +5 min

CNN —German leaders raised the possibility that a fiery cargo plane crash in Lithuania on Monday was the result of sabotage or hybrid warfare. The cargo plane was flying from Leipzig, Germany, and was due to land at Vilnius Airport when it crashed a few kilometers from the runway. The plane skidded on the ground for several hundred meters before hitting a residential home, authorities in Lithuania said. “Our initial information does not indicate that we need to be investigating more serious actions,” Prosecutor Arturas Urbelis said in a statement, according to Reuters. DHL said the plane “made a forced landing about one kilometer from VNO Airport.” It confirmed four people were onboard.

Persons: Olaf Scholz, ” Scholz, Annalena Baerbock, Arturas Urbelis, ”, Lukas Balandis, Darius Jauniskis, “, ” Kestutis Budrys, Gitanas Nauseda, Hendrik Schmidt, ” Budrys, Dmitry Peskov, Valdas Benkunskas, Arūnas Paulauskas Organizations: CNN, Monday, Vilnius Airport, ZDF, Lithuanian, ”, Reuters, US National Transportation Safety, Boeing, US Federal Aviation Administration, Vilnius International, Wall Street Journal, Moscow, NATO, DHL, Wall Street, VNO Airport, ” DHL, Vilnius, Lithuanian Police Locations: Lithuania, Leipzig, Germany, Spanish, Europe, Vilnius, United Kingdom, Canada, Leipzig's, Birmingham, UK

☆ What Trump's trade plans mean for industry in Canada and Mexico — from oil to autos
▼ + stars: | 2024-11-26 | by ( Huileng Tan | Theron Mohamed | ) www.businessinsider.com time to read: +4 min

AdvertisementDonald Trump said he would impose 25% tariffs on Canadian and Mexican exports to the US. The US is a big buyer of products from Canada and Mexico, particularly in the energy and auto sectors. Canadian energy exports to the US were worth $128 billion last year. Mexico worth $379 billion worth of exports to the US in the first nine months of this year, with Canadian exports topping $309 billion, the data shows. AdvertisementWilbur Ross, who served as Commerce Secretary in Trump's first administration, told CBC earlier this month he didn't expect the incoming president to tax Canadian energy imports.

Persons: Donald Trump, Nigel Green, Wilbur Ross, Ross, Tesla, Elon, BYD, Trump Organizations: US, Canadian, deVere, Energy, CBC, Toyota, Nissan, Honda, Elon Musk's, Street, Machinery, . Locations: Canada, Mexico, China, Europe, Asia, . Canada

☆ Stocks making the biggest moves premarket: Amgen, Best Buy, Abercrombie & Fitch, Stellantis and more
▼ + stars: | 2024-11-26 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Abercrombie & Fitch reported third-quarter earnings of $2.50 per share, topping the $2.39 per share LSEG consensus estimate. Revenue was $1.21 billion, versus the $1.19 billion expected. Best Buy — Shares slid 7.4% after Best Buy posted third-quarter results that missed analyst expectations and cut its full-year sales forecast. Adjusted earnings of $1.26 per share came in below the $1.29 per-share earnings expected by analysts polled by LSEG. Fluence reported $1.23 billion in revenue for the quarter, below the $1.28 billion expected by analysts, according to FactSet.

Persons: Fitch, Kohl's, LSEG, Donald Trump, Dick's, Rivian, Fluence, Eli Lilly —, Eli Lilly, Biden, Nordisk's Wegovy, Eli Lilly's Zepbound, —, Sarah Min, Sean Conlon, Fred Imbert, Jesse Pound, Michelle Fox Theobald Organizations: Abercrombie, Fitch, Revenue, LSEG, General Motors, Ford, Georgia EV, Energy, Novo Nordisk, drugmakers Novo Nordisk, Nordisk's Locations: LSEG ., China, Mexico, Canada, Georgia

☆ Private equity is filling a need sports team owners have, says Goldman Sachs' Nicole Pullen Ross
▼ + stars: | 2024-11-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrivate equity is filling a need sports team owners have, says Goldman Sachs' Nicole Pullen RossNicole Pullen Ross, Goldman Sachs head of sports and entertainment, joins 'Squawk on the Street' to discuss where to find growth in sports.

Persons: Goldman Sachs, Nicole Pullen Ross Nicole Pullen Ross

☆ The West is struggling to give Ukraine the weapons it needs — but there may be a solution
▼ + stars: | 2024-11-26 | by ( Hannah Abraham | Tom Porter | ) www.businessinsider.com time to read: +3 min

Ukraine's European allies, hampered by low military production capacity, have been struggling to produce the weapons needed for Kyiv to fight against Russia. Ukraine already has a strong weapons manufacturing industry. An Institute for the Study of War report said Ukraine's defense industry employed 300,000 workers within about 500 different companies in 2023. AdvertisementHe added that supporting Ukraine's defense industry lets the West help ensure Ukraine is self-sufficient. Meanwhile, the US has accused China of providing dual-use goods for Russia's military industry to overcome sanctions.

Persons: Volodymyr Zelenskyy, Vladimir Putin, Eric Ciaramella, Zelenskyy, Sinead Baker Organizations: Russia, Wall Street, Denmark, Carnegie Endowment's, Eurasia Program, Reuters, Storm Shadow, North Locations: Danish, Norway, Sweden, Denmark, Lithuania, Ukraine, Kyiv, Russian, Moscow, Carnegie Endowment's Russia, Russia, North Korea, China

☆ How Trump's new tariff threats knocked one of our stocks but not the market
▼ + stars: | 2024-11-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Investors didn't seem too bothered by President-elect Donald Trump 's new tariff threats Monday evening. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Donald Trump, Amgen, Eli Lilly, Lilly, Jim Cramer's, Trump, Jim, Bill Newlands, Roth MKM, Roth, Amit Mehta, Mehta, Trump's, Morgan Stanley, CNBC's Matthew J, Belvedere Organizations: CNBC, ., Nasdaq, Dow Jones, Dow, Novo Nordisk, Constellation Brands, Modelo, Corona, Justice Department, Anheuser, Busch InBev, Grupo, Google, Reuters, DOJ, Chrome, Economic, of Chicago, Labor Department, Jim Cramer's Charitable Locations: Mexico, China, United States, U.S

☆ The Fed might not cut interest rates at all in 2025, Deutsche Bank economist says
▼ + stars: | 2024-11-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

AdvertisementThe Fed will pause interest rate cuts through all of 2025, Deutsche Bank's chief US economist says. A strong economy and the inflationary impact of Trump's policies will offset the need for rate cuts, Matthew Luzzetti said. The Federal Reserve's easing cycle is closer to stalling than starting, at least according to Deutsche Bank. Chief US economist Matthew Luzzetti expects the central bank to pause interest rate cuts after a final quarter-point reduction in December. First, the US economy doesn't appear headed for an imminent slowdown, which dials back pressure on the Fed to prop up growth by lowering interest rates.

Persons: Matthew Luzzetti, Goldman, Luzzetti, Donald Trump, Goldman Sachs Organizations: Deutsche, Deutsche Bank . Chief, Bloomberg, Fed, Luzzetti, Citi Locations: China, Mexico, Canada

☆ Amgen says obesity drug caused up to 20% weight loss after a year, with no plateau
▼ + stars: | 2024-11-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Amgen on Tuesday said its experimental weight loss injection helped patients with obesity lose up to 20% of their weight on average after a year in a critical mid-stage trial, as the company races to join the booming obesity drug market. The drug, MariTide, also helped patients with obesity and Type 2 diabetes lose up to 17% of their weight after a year. The company said it did not observe a plateau in either group of patients, which indicates the potential for further weight loss beyond 52 weeks. That could boost Amgen's odds of winning a slice of the weight loss drug market, which some analysts forecast could be worth $150 billion a year by the early 2030s. That's unlike Eli Lilly's obesity drug, Zepbound, which activates both GIP and GLP-1.

Persons: Amgen, MariTide, Eli Lilly, Robert Bradway, Jay Bradner, Nordisk's Wegovy, Eli Lilly's Zepbound, Zepbound, Eli, Wegovy, Bradner Organizations: Novo Nordisk, Nordisk's Locations: Amgen, Thousand Oaks , California

☆ Scott Bessent Helped ‘Break’ the Bank of England. Now He’ll Run the U.S. Treasury.
▼ + stars: | 2024-11-26 | by ( Maureen Farrell | ) www.nytimes.com time to read: +1 min

Three decades before he was tapped to lead the Treasury Department, Scott Bessent was asked to help break another country’s financial system. Then 29 years old, Mr. Bessent, working for the financier George Soros, helped “break” the Bank of England with crushing trades against the British pound. He was on a small team at Mr. Soros’s investment firm that, in 1992, amassed a $10 billion bet that the pound was overvalued. Mr. Soros’s fund earned more than $1 billion, along with credit (and infamy) for orchestrating one of Wall Street’s most audacious trades. When President-elect Donald J. Trump announced his selection of Mr. Bessent as Treasury secretary last week, there was no mention of the connection to Mr. Soros.

Persons: Scott Bessent, Bessent, George Soros, Donald J, Trump, Soros Organizations: Treasury Department, Bank of England, Mr Locations: British

☆ Disney agrees to pay $43 million to settle lawsuit alleging it paid men more than women
▼ + stars: | 2024-11-26 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Disney has agreed to pay $43 million to settle a lawsuit that it paid female employees less than their male counterparts in similar roles for nearly a decade. The settlement agreement, reached Monday, stems from a 2019 lawsuit filed by LaRonda Rasmussen. “I strongly commend Ms. Rasmussen and the women who brought this discrimination suit against Disney, one of the largest entertainment companies in the world. They risked their careers to raise pay disparity at Disney,” Lori Andrus, a partner at Andrus Anderson, said in a statement. The plaintiffs accused Disney of paying female employees less than their male counterparts when they started at the company because their pay was lower at previous companies.

Persons: New York CNN —, LaRonda Rasmussen, ”, “, Rasmussen, ” Lori Andrus, Andrus Anderson, Disney Organizations: New, New York CNN, New York CNN — Disney, Disney, CNN, Wall Street Journal Locations: New York, California

☆ Fears of trade wars, volatility and higher inflation: What analysts are saying about Trump's tariff plans
▼ + stars: | 2024-11-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

AdvertisementDonald Trump's latest tariff threats have set alarm bells ringing on Wall Street. Analysts warned of a trade war, volatility, steeper inflation, and a flight to safety in markets. Analysts said the president-elect's latest threats could presage tariffs on other countries' exports and escalate into a full-scale trade war. "There has been a view among some investors that Trump's tariff talk was a negotiating tactic, a threat rather than a promise. Advertisement"The president-elect's scorched-earth approach has stoked fears of a trade war, with investors increasingly wary that Europe could be next in his crosshairs."

Persons: Donald Trump's, Donald Trump, There's, George Saravelos, Trump, Dan Coatsworth, AJ Bell, Matt Britzman, Hargreaves Lansdown, Nigel Green, Mark Haefele, Ruben Ferreira, FlowCommunity Organizations: Analysts, Deutsche Bank, Free, deVere, UBS Global Wealth Management Locations: Mexico, Canada, China, America, Europe

☆ Zoom abandons its video-based identity, rebranding as an AI-first company
▼ + stars: | 2024-11-26 | by ( Katherine Tangalakis-Lippert | Aditi Bharade | ) www.businessinsider.com time to read: +3 min

AdvertisementZoom Video Communications Inc. is dropping video from its name in an AI-first rebranding effort. The company, best known for its videoconferencing, will now be known as "Zoom Communications Inc."Zoom isn't the only company revisiting its trajectory in the AI boom. Zoom — the company best known for bringing the world the videoconferencing software that got corporate workers through the coronavirus pandemic — wants to be known for its status as an AI-first company, CEO Eric Yuan wrote in a company blog post published Monday announcing a major rebrand. From this day forward, the company formerly called "Zoom Video Communications Inc." will be known simply as "Zoom Communications Inc." the post reads, as the company focuses on an AI-first approach to corporate communications. "Woven throughout Zoom Workplace, AI Companion frees us up to focus on more important work and minimizes time wasted on less meaningful tasks," the company announced.

Persons: Eric Yuan, Morgan Stanley, OpenAI, Sundar Pichai, Pichai, Marc Benioff, Gartner, Copilot Organizations: Communications, Communications Inc, Major Big Tech, Google, Microsoft, Securities, Exchange, OpenAI, SEC, Business Locations: Amazon, OpenAI

☆ Consumer confidence comes in as-expected in November
▼ + stars: | 2024-11-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumer confidence comes in as-expected in NovemberCNBC's Rick Santelli joins 'Squawk on the Street' to go over the consumer confidence data.

Persons: Rick Santelli

☆ Dick's Sporting Goods posts robust holiday guidance
▼ + stars: | 2024-11-26 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

The Dick's Sporting Goods logo is displayed on the floor of a store on September 04, 2024 in Daly City, California. Dick's Sporting Goods raised its full-year guidance on Tuesday after what CEO Lauren Hobart called an "excellent" back-to-school shopping season and better-than-expected comparable sales for its third quarter. The sporting goods giant is now expecting fiscal 2024 same-store sales to grow between 3.6% and 4.2%, up from a previous range of 2.5% to 3.5%. Dick's said the strong quarter led it to also raise its full-year sales and earnings guidance. It's now expecting full-year earnings per share to be between $13.65 and $13.95, ahead of previous guidance of $13.55 to $13.90.

Persons: Lauren Hobart, Hobart, StreetAccount, Dick's, It's Organizations: Dick's Sporting Goods, LSEG Locations: Daly City , California

☆ Biden administration plans to expand coverage of GLP-1 drugs for Americans with Medicare & Medicaid
▼ + stars: | 2024-11-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden administration plans to expand coverage of GLP-1 drugs for Americans with Medicare & MedicaidCNBC's Bertha Coombs joins 'Squawk on the Street' to report on Biden's administration plan to expand coverage of GLP-1 drugs for Americans with Medicare and Medicaid.

Persons: Bertha Coombs Organizations: Biden, Medicare

☆ Walmart becomes the latest company to walk back DEI initiatives
▼ + stars: | 2024-11-26 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

Walmart is the latest American company to reverse some of its diversity, equity, and inclusion or DEI initiatives. AdvertisementWalmart is not the first company to roll back DEI initiatives, nor is it the first to be scrutinized by Starbuck. Ford, John Deere, Tractor Supply Company, Molson Coors, Lowe's, and Harley-Davidson are among the US companies that have backed down on DEI. AdvertisementIn his Instagram post, Starbuck said Walmart reached out to him after it found out he was looking into the company. "No retail company wants a story about them from us ahead of Black Friday," he told The Wall Street Journal.

Persons: Robby Starbuck, Starbuck, Ford, John Deere, Davidson Organizations: Walmart, for Racial Equity, Business, Center for Racial Equity, Racial Equity Institute, Human Rights, Tractor Supply Company, Molson Coors, Lowe's, Harley, Wall Street Locations: America

☆ Buy the 'average' stock for big gains into year-end, says chart analyst
▼ + stars: | 2024-11-26 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

This outperformance outside of the biggest stocks in the market sets up the "average stock" for success heading into year-end, according to Roth MKM's JC O'Hara. RSP 5D mountain RSP 5-day chart "This shows breadth is expanding. "We found similar price action within the Nasdaq 100 and the equal weighted version last week. The QQQ's gained 1.9% [last week] while the equal weighted version of the ETF, QQQE, surged 3.5% and came within pennies of a new closing high," O'Hara said. The resurgence of the so-called average stock follows Donald Trump securing a second term as president.

Persons: it's, Russell, Roth MKM's JC O'Hara, O'Hara, Donald Trump, Trump, Hess Organizations: Nvidia, Microsoft, RSP, Nasdaq, QQQE, Investors, Citi, Chevron, Exxon Mobil Locations: Mexico, Canada, Namibia

☆ Wall Street is bullish on sports investing as major leagues' values outpace the S&P 500 by up to 5 times. Here's the strategy and sectors top firms are betting on.
▼ + stars: | 2024-11-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

AdvertisementFormula 1 kicked off the trend in 2006 after allowing private equity firm CVC Capital Partners to purchase it. Then, in 2021, the NBA allowed private equity to own up to 20% of franchises. For example, the value of Major League Soccer (MLS) was up by 1,565%, or almost five times the index. "You've seen many large private equity firms participating in that space over the past five years or longer, and that certainly has seen significant valuation growth. Below is a table from JPMorgan's 2025 outlook report showing private equity funds planned investment themes.

Persons: David Tepper, Steve Cohen, Jay Serpe, Ted Yarbrough, Serpe, You've, JP Morgan, Yarbrough Organizations: Sports, Carolina Panthers, New York Mets, Capital Partners, NBA, JPMorgan Private Bank, Major League Soccer

☆ International markets could outperform on Trump's tariffs, says Charles Schwab's Jeffrey Kleintop
▼ + stars: | 2024-11-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInternational markets could outperform on Trump's tariffs, says Charles Schwab's Jeffrey KleintopJeffrey Kleintop, Charles Schwab chief global investment strategist, joins 'Squawk on the Street' to discuss the macro market and Trump's proposed tariffs impact on the economy, Fed and labor force.

Persons: Charles Schwab's Jeffrey Kleintop Jeffrey Kleintop, Charles Schwab Organizations: Email International

☆ Eli Lilly shares jump on two big updates and Jim Cramer is so here for it
▼ + stars: | 2024-11-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

Eli Lilly shares soared Tuesday on a one-two punch of good news. The second positive development for Eli Lilly comes from Amgen , which reported mid-stage trial results for its experimental obesity treatment known as MariTide. Big picture The prospect of across-the-board coverage of obesity drugs for Medicare and Medicaid enrollees would be a financial win for Eli Lilly, particularly on the Medicare front. For its part, Eli Lilly has said regulators could expand Zepbound's label to cover obstructive sleep apnea by year-end. An Eli Lilly & Co. Zepbound injection pen arranged in the Brooklyn borough of New York, US, on Thursday, March 28, 2024.

Persons: Eli Lilly, Jim Cramer, Biden, Lilly, didn't, Wegovy, Zepbound, Biden administration's, Donald Trump, Wells, Robert F, Kennedy Jr, Trump, Kennedy —, Kennedy, Novo, Leerink, Eli Lilly's tirzepatide, Piper Sandler, tirzepatide, Piper, Jim, Amgen's, retatrutide, Jim Cramer's, Shelby Knowles Organizations: Novo Nordisk, Medicaid, NBC News, White, Medicare, Centers, Services, STOP, Alliance, Wells Fargo, of Health, Human Services, Food and Drug Administration, Senate, Biden, Club, CNBC, Bloomberg, Getty Locations: New York, Texas, Amgen, Lilly, Brooklyn

☆ CNBC Daily Open: Investors endorse Trump’s Treasury secretary pick
▼ + stars: | 2024-11-26 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. In contrast to Wall Street, Asia-Pacific markets mostly fell on Tuesday. Wall Street likes BessentScott Bessent, President-elect Donald Trump's pick for U.S. Treasury secretary, has got a big thumbs up from the stock as well as bond markets. Wall Street strategists heaped praise on Bessent; global analysts also think Trump's pick is favorable for markets. Investors are in a risk-on mood because of Bessent's perceived friendliness to Wall Street and reports of Israel and Hezbollah moving closer to a cease-fire.

Persons: Scott Bessent, Bessent Scott Bessent, Donald Trump's, Trump Organizations: Key, CNBC, Japan's Nikkei, U.S, Treasury, Wall, Trump, buybacks Companies, Barclays Locations: Washington ,, Street, Asia, Pacific, Hong Kong, Mexico, Canada, Israel

☆ CNBC Daily Open: Investors really like Trump’s Treasury secretary pick
▼ + stars: | 2024-11-26 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Stefani Reynolds | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. This time, it's revved up by Trump's Treasury secretary pick — Scott Bessent. "I would recommend that tariffs be layered in gradually," Bessent told CNBC earlier this month before his nomination. Small-cap stocks performed even better, probably because Bessent has expressed support for Trump's economic agenda, which would benefit smaller, domestically oriented companies.

Persons: SPX, Scott Bessent, Stefani Reynolds, it's, — Scott Bessent, Bessent, —, Russell, Quincy Krosby, Alex Harring, Hakyung Kim Organizations: Key, Bloomberg, Getty, CNBC, Group, Trump, Dow Jones, Nasdaq, Treasury, LPL Locations: Washington , DC, U.S

☆ I spent $120 on a ferry to and from an artsy Cape Cod town with beautiful views. The scenic 90-minute ride wasn't even the best part.
▼ + stars: | 2024-11-26 | by ( Natalie Gale | ) www.businessinsider.com time to read: +1 min

AdvertisementI spent about $120 on a round-trip ferry ride from Boston to Provincetown, Massachusetts, and back. The ferry, which I booked through Boston Harbor City Cruises, had lots of seating and a snack bar. A friend and I recently decided to take a day trip there from Boston via a 90-minute ferry ride on Boston's Provincetown/Cape Cod Fast Ferry through Boston Harbor City Cruises. Including taxes, fees, and ticket insurance, my round-trip ticket cost about $120. Here's what the ferry ride and day trip to Provincetown were like.

Organizations: Boston, Boston Harbor City Cruises, Provincetown Locations: Boston, Provincetown , Massachusetts, Boston Harbor, Cape Cod, Provincetown, Cape

☆ Fury Unfolds in Pakistan
▼ + stars: | 2024-11-26 | by ( The New York Times | ) www.nytimes.com time to read: 1 min

Through Imran Khan’s evolution from global sports star to anti-corruption crusader and to prime minister of Pakistan — and then to outsider after his ouster in 2022 — his ability to mobilize huge street protests through social media has been a potent tool to pressure his opponents. But few protests have reached the intensity of the clashes of the past few days as his supporters marched to the capital, Islamabad, and demanded his release from prison. On Tuesday, government officials called out the army and gave it free rein to fire on protesters after six members of the security forces were killed. Again, Pakistan’s capital has become a battleground.

Persons: Imran, Pakistan — Locations: Pakistan, Islamabad

☆ Nordstrom tops Wall Street’s earnings expectations, as shoppers buy more clothes and shoes
▼ + stars: | 2024-11-26 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Nordstrom on Tuesday beat Wall Street's quarterly sales expectations, as revenue grew about 4% year over year from shoppers buying clothing, shoes and activewear at both the company's namesake department store and its off-price chain. Compared with the second quarter, women's apparel, shoes and men's apparel sales in the fiscal third quarter also grew sequentially. Comparable sales increased 4% across Nordstrom's two brands, its namesake and its off-price chain, Nordstrom Rack. That easily topped analysts' expectations for 0.7% gains in comparable sales, according to StreetAccount. Nordstrom's sales growth, while modest, is notable at a time when sales of discretionary merchandise and the luxury category have been under pressure.

Persons: Nordstrom, Erik Nordstorm, we're, we'll, we've, Erik Nordstrom, Peter Nordstrom Organizations: LSEG, Nordstrom, Retailers, Walmart, El Puerto de Liverpool Locations: Chicago , Illinois, Seattle, Mexican, El Puerto

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