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Nordstrom's Flop Amid Corona

The American clothing retailer announced a net loss of $255 million in the last quarter, compared with net gain of $141 million in the last year. As stores were closed for several days in the pandemic period, the net sales plummeted 53%. The plunge happened as the Nordstrom’s stores were shut down for numerous days in the most recent quarter. The damaged company tried to regain profit through discounts; however, its total apparel sales stayed low as many customers experienced lockdown. The company’s e-commerce also suffered as a result of a shift in time for its Anniversary Sales. Nevertheless, it saw a rise of almost 20% in online sales within this period. Samira H.
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By Samira Hassanzadeh on October 19, 2021

Gap's Boom in Face Masks Sales

Gap Company has reported it has made $130 million for selling facial masks to individuals or in large quantities to businesses. According to the company, bulk sales were delivered to New York, California and Kaiser Permanente. The American clothing retailer started its profitable mask production right after the outbreak. The face masks are presented in different brands, styles, and colors to online and offline customers. Although Gap's overall sales dropped some 18%, the incorporation’s online sale saw a 95% boost. Gap has also handled online sales to draw 3.5 million new shoppers, which shows a lift of over 165% compared to the last year. Samira H.
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By Samira Hassanzadeh on October 19, 2021

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