Nordstrom, a US-based leading fashion retailer, reported second quarter (Q2) financial results for fiscal 2020 ended on August 1, 2020. Net sales for the quarter declined 53 per cent to $1,778 million (Q2 FY19: $3,778 million) reflecting temporary store closures for approximately 50 per cent of days during the quarter due to Covid-19.
Nordstrom, a US-based leading fashion retailer, reported second quarter (Q2) financial results for fiscal 2020 ended on August 1, 2020. Net sales for the quarter declined 53 per cent to $1,778 million (Q2 FY19: $3,778 million) reflecting temporary store closures for approximately 50 per cent of days during the quarter due to Covid-19. #
“At the onset of the pandemic, we focused on protecting and enhancing liquidity, and we successfully executed on these plans,” Erik Nordstrom, chief executive officer of Nordstrom, said in a press release.
Nordstrom, a US-based leading fashion retailer, reported second quarter (Q2) financial results for fiscal 2020 ended on August 1, 2020. Net sales for the quarter declined 53 per cent to $1,778 million (Q2 FY19: $3,778 million) reflecting temporary store closures for approximately 50 per cent of days during the quarter due to Covid-19. #
Company incurred a net loss of $255 million during Q2 FY20 compared to net income of $141 million in same period last year.
Nordstrom, a US-based leading fashion retailer, reported second quarter (Q2) financial results for fiscal 2020 ended on August 1, 2020. Net sales for the quarter declined 53 per cent to $1,778 million (Q2 FY19: $3,778 million) reflecting temporary store closures for approximately 50 per cent of days during the quarter due to Covid-19. #
In July, Nordstrom increased inventory receipts to meet customer demand, particularly for its one-of-a-kind anniversary sale, which began with early access for Nordy Club customers on August 4 and all customers on August 19.
Nordstrom, a US-based leading fashion retailer, reported second quarter (Q2) financial results for fiscal 2020 ended on August 1, 2020. Net sales for the quarter declined 53 per cent to $1,778 million (Q2 FY19: $3,778 million) reflecting temporary store closures for approximately 50 per cent of days during the quarter due to Covid-19. #
“We’re confident that we can improve sales trends in the second half of the year and beyond,” Pete Nordstrom, president and chief brand officer of Nordstrom, said.
Fibre2Fashion News Desk (JL)