Headlines

Nordstrom’s Q1 Losses more than Half a Billion USD

The department store retailer said its e-commerce sales had risen by 5 percent in light of the other sales losses

Published

4 years ago

May 29, 2020

VMSD Staff

Nordstrom (Seattle) announced its first quarter net sales fell 40 percent from the previous year, Retail Dive reports. Its Rack sales fell 45 percent and its full-line sales fell by 36 percent, while its e-commerce sales rose 5 percent with a reported new online customer growth of more than 50 percent.

The retailer temporarily closed its stores March 17 due to the COVID-19 pandemic. Some locations have begun to reopen to shoppers as shelter-in-place orders are eased across the U.S.

Overall the retailer experienced a $813 million loss before interest and taxes, due to markdowns as well as a decrease in sales volume due to temporarily store closures.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design