Trouble at Nordstrom - seen as head-and-shoulder above rivals such as Macy's Inc and cheaper retailers including Kohl's Corp in terms of style, quality and customer service - may indicate a permanent shift in the way people shop and what they buy, analysts said. "The confusing disconnect between the seemingly strong health of the high-end U.S. consumer on paper and actual retailer results is much more a reflection of the tectonic shifts across the retail landscape," Evercore analysts said in a note. Nordstrom followed Macy's on Thursday in reporting same-store sales well below Wall Street expectations and cutting its full-year forecast.
The U.S. Supreme Court on Friday said it would hear arguments over whether Virginia's Republican-led legislature unlawfully considered race when drawing congressional districts by packing black voters into one Democratic-held district, diluting their clout elsewhere.
Maine Governor Paul LePage on Friday said building high-voltage transmission lines from eastern Canada will be key to helping New England cut its soaring electricity costs, which he said had driven out businesses and cost the region jobs. "There's a better future for New England if we open the door to Quebec," he said at the New England-Canada Business Council energy forum in Boston. New England has the highest electricity prices in the continental United States, according to the U.S. Department of Energy, a situation that has worsened after the closure of nuclear and coal-fueled power plants in recent years.