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Nordstrom Q1 revenue and profits decline

Business

Nordstrom Q1 revenue and profits decline

By FashionUnited

29 May 2020

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.

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