4 May 2020
The Weekly
United States

Nordstrom will begin to unveil store openings, but executives are taking the position that the company does not need to be the first out with any openings. The plan is to make it apparent to the public all the health and safety measures being taken in advance of opening any stores. “I think there’s going to be a couple of phases,” said Pete Nordstrom, Chief Brand Officer. “We will open up in a gradual way and gain customer confidence so they feel safe. I also think we’re going to evolve into what will be a new normal.” Nordstrom, compared to some other fashion retailers and department stores, is in a better position to navigate through the crisis considering its liquidity position. It exited 2019 with roughly $850mn in cash and has a revolver of $800mn that it drew down. Nordstrom’s market strategy has been accelerated so that in the past two weeks, all Rack stores in the U.S. started fulfilling online orders; all full-line department stores and Rack stores in Canada started fulfilling online orders, and e-commerce was launched in Canada about a month ago. In the U.S., Nordstrom has been fulfilling orders from its full-line department stores for a long time.

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