Nordstrom says off-price Rack stores are helping attract new customers, as high-income shoppers stay ‘resilient’

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Shares of Nordstrom Inc. ran higher after hours on Wednesday after the upscale department-store chain reported better-than-expected first-quarter results and held to its full-year outlook, helped by what executives characterized as a “resilient” but “cautious” high-income consumer.

The results came despite what management said was an “uncertain” economic backdrop that has dampened demand for clothing. And they followed Nordstrom’s recent decision to exit its business in Canada, a move that weighed on sales trends during the…

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