Notifications Bell

Bigger-than-expected quarterly losses for Nordstrom

Bigger-than-expected quarterly losses for Nordstrom

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%.


This information prepared by is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.