Nordstrom Suffers Net Loss of $521 Million USD in Q1 2020

Nordstrom has suffered a net loss of $521 million USD in the first financial quarter of 2020, largely due to the ongoing coronavirus pandemic. More specifically, it revealed back in May that its net sales dropped by a whopping 40 percent year over year, with its full-line sales falling 36 percent and off-price sales reducing by 45 percent.As a result of these financial results, the luxury department chain store is now employing various strategies to restructure its business, including combining ...