As it looks to a future beyond the COVID-19 crisis, Nordstrom pointed to its pursuit of strategic omnichannel initiatives even as the company reported sales and earnings declines in the first quarter.
Nordstrom will extend its temporary store closure for at least one week, through April 5. The closure impacts all U.S. and Canada stores, including Nordstrom, Nordstrom Rack, Trunk Club, Jeffrey, Nordstrom Local and Last Chance.
Nordstrom has named Teri Bariquit chief merchandising officer. In this newly created role, Bariquit will serve as a member of the company’s executive team, leading the full-price and off-price merchandising areas. She will report to co-president, Pete Nordstrom.
Nordstrom reported that its net sales decreased 3.5% for the first quarter. The company said its top-line results were impacted by three areas— loyalty, digital marketing and merchandise— which contributed to declines across its full-price and off-price businesses, in both stores and online.
Nordstrom’s special committee of the board said it has ended discussions with members of the Nordstrom family and their efforts to acquire and take the department store retailer private.
According to a recent Reuters report, Nordstrom’s founding family group is finalizing plans to submit an offer to take the U.S. department store retailer private.