Sales were down 40% at Nordstrom after temporarily closing its stores due to the coronavirus pandemic, the Seattle-based retailer announced Thursday. COVID-19 has led other department stores to file for bankruptcy including J.C. Penney and Neiman Marcus. Nordstrom officials had a different take.
“We’re entering the second quarter in a position of strength, adding to our confidence that we have sufficient liquidity to successfully execute our strategy in 2020 and over the longer term,” Nordstrom CEO Erik Nordstrom said in a news release.
Still, Nordstrom is not immune from permanent store closings. Officials previously announced they would permanently close 16 of the company’s 116 full-line stores because of the impact of COVID-19. In its presentation Thursday, it listed the locations, which include closing three Jeffrey specialty boutiques.
