Nordstrom warns of ‘softening’ shopper spending, however notes fewer value cuts

Upscale clothes retailer Nordstrom Inc. on Tuesday warned of “softening” shopper spending forward of the vacations. But after greater than a 12 months of dashing to clear cabinets of piles of undesirable clothes, executives there turned the newest to say they haven’t wanted to chop costs as a lot.

Chief Executive Erik Nordstrom stated on the corporate’s earnings name that retailer inventories — or its reserves of shirts, pants and sneakers nonetheless sitting in stockrooms — have been down 9% through the third quarter. Those thinner stockpiles, he stated, “required…