Retail News

Nordstrom’s leader upbeat despite tough quarter

The Seattle Times 05/29/2020

Nordstrom reported a loss of $521 million in the first quarter as sales dropped 40 percent after the retailer was forced to close stores across the nation. Even so, CEO Erik Nordstrom remains optimistic about the company’s prospects. “We believe these unprecedented times are only accelerating the changes that were already well underway with our customers, including how they want to engage with digital and physical experiences,’’ Mr. Nordstrom said. “The flexibility of our business model allows us to stay ahead of these changes as we serve customers through our two distinct brands, Nordstrom and Nordstrom Rack, across stores and online.’’

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