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Bigger-than-expected quarterly losses for Nordstrom

Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
The pandemic took a swing at Nordstrom

The luxury department-store chain, Nordstrom, has been put to the ground by the pandemic. 

Nordstrom reported 53% net sales drop in Q2, as stores were temporarily closed roughly 50% of Q2 because of the pandemic.

The company reported a loss of $255 million, or $1.62 per share. Compared to last year’s figures of a net income of $141 million. 

Revenue fell to $1.86 billion from last year’s 3.87 billion. It fell short of the $2.38 billion expected. 

Nordstrom digital sales reported a growth of 20% in the quarter. 

Despite being one of the most resilient department stores in the US, its future doesn’t seem too bright as its apparel sales are in free fall, and the focus shifts to the home segment. 

Following the report, Nordstrom stock price traded 6% lower. Year-to-date, its share price lost 62%.

Read more about the losses in the fashion industry here, and here!


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.