Total Company net sales increased 3.5 percent and comparable sales increased 1.7 percent, compared with the same quarter last year. The Company's Anniversary Sale, historically its largest event of the year, performed better than recent trends. Nordstrom continued its progress in executing its customer strategy while maintaining discipline around inventory and expenses: • As a result of the Company's ongoing efforts to provide newness and limited-distribution product to customers, Nordstrom proprietary labels represented three of the top five selling brands during the Anniversary Sale. • In executing its digital strategy, the Company delivered online sales growth of 20 percent at Nordstrom.com, reflecting its largest volume day in company history, and 27 percent at Nordstromrack.com/HauteLook. • The Nordstrom Rewards loyalty program continues to play an important role in reaching new customers and strengthening existing customer relationships. The Company has 9.4 million active Rewards customers in the U.S. and Canada, up approximately 50 percent, from 6.2 million a year ago. Sales from Nordstrom Rewards customers represented 56 percent of second quarter sales, compared with 48 percent a year ago. Click Read More below for additional detail.

More than 115,000 postal workers at Royal Mail are set to strike following the result of a ballot announced yesterday (19 July), while the postal operator has reported an 11.5% drop in sales in Q1, as it holds its 2022 Annual General Meeting (AGM) today. The Communication Workers Union (CWU), which represents Royal Mail Group workers, has voted by 97.6%, on a 77% turnout, to take action. This represents the biggest mandate for strike action ever reached since the 2016 Trade Union Act was implemented. The union is demanding that Royal Mail group enters into negotiations to secure a “straight, no-strings” pay increase for workers.

Average student spending on college course materials, including textbooks and digital materials, declined 22% during the 2021-2022 academic year according to new data reported today by independent research firm Student Monitor. The trend continues a decade long decline according to the research firm, with student spending on the category dropping a dramatic 44% between the 2011-12 and 2021-22 academic years. “Course materials are more affordable now than at any time in the past decade,” commented Eric Weil, Managing Partner, Student Monitor. “Student spending dropped 22% during the most recent year, coming in at an average of just $314, in large part because Students are tailoring their purchases to the requirements of their individual courses, and taking full advantage of some of the new affordable options.”