15 July 2020
The Weekly
United States

Nordstrom has suffered a net loss of US$521mn in Q1 2020, largely due to the ongoing coronavirus pandemic. As a result of these financial results, the store is now employing various strategies to restructure its business, including combining its full price, off-price, and Local stores, as well as a series of layoffs. Nordstrom also plans on cutting its rent payments down by half for the remainder of the year. “Our new operating model helps us serve customers across our business as one company, while enabling us to be more agile and flexible. We’ll continue to invest in critical capabilities across technology, data analytics and supply chain to deliver for our customers,” said Nordstrom.