An individual walks into the Nordstrom retailer open for enterprise as New York Metropolis strikes into Section 2 of re-opening following restricti
An individual walks into the Nordstrom retailer open for enterprise as New York Metropolis strikes into Section 2 of re-opening following restrictions imposed to curb the coronavirus pandemic on June 29, 2020 in New York, New York.
Rob Kim | Getty Photos
Nordstrom on Wednesday reported a gross sales decline of 22% for the nine-week interval ended Jan. 2, because the division retailer chain struggled to get customers to come back into its shops for attire, footwear and vacation presents.
Its shares fell greater than 2% in after-hours buying and selling.
Nordstrom stated its digital gross sales in the course of the vacation interval grew 23% from 2019 ranges, and represented 54% of complete gross sales, in contrast with 34% a 12 months in the past. And greater than 30% of consumers’ on-line orders have been fulfilled by its shops, the corporate added.
The double-digit gross sales decline was consistent with expectations it had set for the fourth quarter, Nordstrom stated.
“We’re inspired by the growing momentum all through and following the vacation season,” CEO Erik Nordstrom stated in an announcement.
The corporate continues to count on a worthwhile fourth quarter, nevertheless it stated it nonetheless faces pressures resulting from heightened transport surcharges at its rising e-commerce enterprise.
Nordstrom is about to carry a digital investor occasion on Feb. 4, and can report its fourth-quarter outcomes on March 2.
On Tuesday, the attire retailer City Outfitters reported disappointing vacation gross sales resulting from declines in retailer visitors due to the Covid pandemic. Whereas big-box retailer Goal on Wednesday stated same-store gross sales climbed greater than 17% over the vacations, boosted by positive factors on-line. Off-mall retailers, like Goal, Finest Purchase and Walmart, have largely been performing higher than mall-based corporations.
Nordstrom shares are down about 10% over the previous 12 months. The corporate has a market worth of practically $6 billion.
Learn the total press launch from Nordstrom.