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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

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