Nordstrom Sales Plunge Nearly 40%
Video Credit: Wochit - Duration: 00:33s - Published
Nordstrom Sales Plunge Nearly 40%
(Reuters) - Upscale department store chain Nordstrom Inc (JWN.N) on Thursday reported a nearly 40% slump in quarterly sales, as lockdowns to contain the COVID-19 pandemic forced it to shut stores.
Retailers are reeling from the impact of the coronavirus crisis, with Nordstrom rivals J.C.
Nordstrom said digital sales rose 5% to $1.1 billion in the first quarter ended May 2.
Net loss came in at $521 million, or $3.33 per share, in the first quarter ended May 2, compared with a profit of $37 million, or 23 cents per share, a year earlier.
