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.
As Nordstrom plans to reopen stores, the department store and off-price retailer is boosting its digital and store capabilities. The company also plans to permanently close 16 full-line stores.
Nordstrom continues to take precautionary measures to strengthen its financial position for the long term.
Nordstrom has appointed two new members to its board of directors: Jim Donald, co-chairman of Albertsons board of directors and Mark Tritton, president and CEO of Bed Bath & Beyond.
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 is taking precautionary measures to strengthen its financial position in response to the rapidly changing market circumstances arising from the COVID-19 pandemic.
A range of retailers across channels are responding to the coronavirus outbreak with moves to temporarily close their stores, reduce store hours and other consumer and employee oriented initiatives.
As Nordstrom reported its fourth quarter financial results, the company made changes at the top, including the appointment of Erik Nordstrom as CEO and the pruning of its board.
Nordstrom and Neiman Marcus have opened updated urban department store formats in New York City, and while they are heavily apparel oriented, they have significant, meticulously merchandised housewares assortments with some home furnishings.
Nordstrom cut costs and boosted earnings in a third quarter that saw traditional full-line store sales slip and its urban strategy enter a next phase in Manhattan.
Nordstrom has opened the doors to its first-ever flagship store for women and children in New York City. Located at 225 West 57th Street, across from the men’s store which launched in 2018, the new store occupies the base of Central Park Tower. Customers can shop 320,000-square-feet of retail space across seven levels.
Nordstrom will continue its expansion in New York City by adding two more service hubs under its Nordstrom Local concept.
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.
It was a mixed second quarter for Nordstrom, as the department and off-price retailer’s earnings beat its expectations while net sales declined.
The Nordstrom Anniversary Sale, the retailer’s biggest sale of the year, launches Friday, July 19.
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.
At a time when retailers are looking at new ways to reach urban customers, Nordstrom will continue to expand its presence in New York City this fall by opening two Nordstrom Local neighborhood service hubs.
Nordstrom reported a mixed fourth quarter, as earnings received a boost from corporate tax reform while net sales decreased.
Nordstrom has reported a comparable sales increase of 1.3% for the nine weeks ended January 5, 2019, highlighting the strength of its Nordstrom Rack off-price store division during the holidays.
Blake Nordstrom, co-president of Nordstrom, died January 2, at the age of 58.