Nordstrom Q1 revenue and profits decline

The company reported a Q1 net loss on Thursday. Compared with the same period last year, revenues also slipped by 39.5 percent.

For Q1, the company's net profit was -62 million dollars, which decreased from 513 million dollars last year. Revenues decreased to 2,026 million dollars. The profit margin of the company slipped to -3 percent compared to 15 percent a year ago.

Nordstrom, Inc. is an American upscale fashion retailer, founded by John W. Nordstrom and Carl F. Wallin and headquartered in Seattle, Washington. The company began as a shoe retailer, and has since expanded their inventory to include clothing, accessories, handbags, jewellery, cosmetics, and fragrances. There are several hundred stores operating in many states, which includes Full-Line stores..

As of 2020, Nordstrom has more than 76,000 employees and operates over 400 stores.

This story was generated by Arria, an NLG tool that turns data into stories. You can report errors and bugs to tip@fashionunited.com.