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nordstrom news and archive

Retail

Nordstrom launches voter participation initiative

Nordstrom has launched ‘Make Your Voice Heard’, a nationwide non-partisan voter participation initiative. The goals of this initiative are to educate, inspire and make it easy for Nordstrom employees and customers to have a voice, through responding to the 2020 Census and voting in elections. The fashion retailer is in partnership with...

Sep 9, 2020

Management

Nordstrom posts 53 percent drop in Q2 sales

Nordstrom, Inc. reported loss per diluted share of 1.62 dollars, while the company’s net sales decreased 53 percent from last year, reflecting temporary store closures for approximately 50 percent of days during the quarter due to Covid-19, in addition to an approximately 10-percentage point timing impact from the Nordstrom anniversary sale...

Aug 26, 2020

Fashion

Nordstrom partners with nonprofit to provide shoes to children in need

Nordstrom hopes to donate more than 200 thousand pairs of shoes to children who need them through its latest partnership with Shoes That Fit. The retailer has teamed with the nonprofit organization every year for the past ten to provide new sneakers to kids in need throughout the country. Between now and October 4, Nordstrom customers may...

Aug 18, 2020

Retail

Nordstrom sets NYC reopenings

On Wednesday Nordstrom will become the first nonessential department store to open in New York City opening all of its New York stores. Nordstrom has been phasing in reopenings around the country for several weeks as coronavirus lockdowns have been lifted. The reopenings include the Nordstrom men's store and the Nordstrom women's store at 57th...

Jun 19, 2020

Management

Nordstrom posts 40 percent drop in Q1 sales

Nordstrom, Inc. reported that its first quarter net sales decreased 40 percent to 2,026 million dollars from last year. The company said in a statement that loss per diluted share was 3.33 dollars, which included charges of 1.10 dollars associated with the impact of Covid-19. Nordstrom Q1 sales hit “We successfully strengthened our financial...

May 29, 2020

Report

Nordstrom Q1 revenue and profits decline

The company reported a Q1 net loss on Thursday. Compared with the same period last year, revenues also slipped by 39.5 percent. For Q1, the company's net profit was -62 million dollars, which decreased from 513 million dollars last year. Revenues decreased to 2,026 million dollars. The profit margin of the company slipped to -3 percent compared...

May 29, 2020

Report

Nordstrom to permanently close Jeffrey stores

Nordstrom has announced it is permanently closing all three of its Jeffrey specialty boutiques and that its founder Jeffrey Kalinsky is retiring. The closures come at a time when retailers across the world are looking to cut costs amid the Covid-19 crisis. Nordstrom last week announced the permanent closure of 16 full-line stores. “Like most...

May 20, 2020

Retail

Nordstrom to permanently close 16 stores

Nordstrom has said that it will permanently close 16 full-line stores as a measure to strengthen business for the long-term. The company is facing the effects the COVID-19 pandemic has had on its retail business. It will incur non-cash impairment charges associated with its store closures. “We’ve been investing in our digital and physical...

May 6, 2020

Retail

What does the future hold for brick and mortar?

On Friday Conde Nast held the final in a series of Vogue Conversations, The Future of Brick and Mortar. FashionUnited joined the discussion, a topic that is on every brand’s list as the industry tackles its biggest crisis in decades. The coronavirus has disrupted economies and sees four out of five people’s jobs hit by the pandemic. Consumer...

Apr 21, 2020

Report

Nordstrom appoints two new board members

US luxury department store chain Nordstrom has announced the appointment of Jim Donald and Mark J. Tritton to its board of directors. Donald has spent his career working in the retail, food and hospitality industries, holding CEO positions at coffee chain Starbucks, Extended Stay America, Inc, and Haggen. Tritton is currently president and CEO...

Apr 7, 2020

Report

Nordstrom announces temporary layoffs, executive salary cuts

Nordstrom, Inc. has announced extension of its temporary store closure plan for at least one week, through April 5, which includes all U.S. and Canada stores, including Nordstrom, Nordstrom Rack, Trunk Club, Jeffrey, Nordstrom Local and Last Chance. The company said in a statement that since it will require a smaller workforce to execute on the...

Mar 26, 2020

Management

Nordstrom shuts stores, withdraws fiscal 2020 outlook

To do its part to limit the spread of the virus, Nordstrom Inc. will temporarily close its stores, including Nordstrom full-line, Nordstrom Rack, Trunk Club clubhouses and Jeffrey in the U.S. and Canada for two weeks, effective March 17. Nordstrom said in a statement that it continues to serve customers through its online business, which made up...

Mar 17, 2020