In 2007, the retailer announced record sales and plans to open 25 additional stores.
The dismissal comes before Penney and other traditional retailers announce holiday shopping results.
Several retailers, benefiting from sharp cuts in their inventory, announced fourth-quarter earnings yesterday that were generally better than expected.
The two struggling retailers announced a merger late last year, although the deal has yet to close.
Nordstrom's stock lost 20 percent of its value after the retailer announced a disappointing earnings forecast.
The nation's largest retailer announced on Thursday that it would cut 21,000 jobs.
Almost every day, one retailer or another has announced that sales fell in September.
The technology was introduced in 2007, but few retailers have so far announced full roll-outs of it.
Four large retailers announced earnings that disappointed Wall Street and their stocks all fell.
Macy junk bonds rose in price the day after the retailer announced accelerated plans to reduce costs and expenses.