Adds background, particulars
Adds background, particulars
March 16 (Reuters) – Nordstrom Inc JWN.N stated on Monday it might briefly shut its shops in america and Canada and pull its fiscal 2020 forecast, because the upscale retailer joins its friends in an effort to restrict the unfold of the coronavirus.
The division retailer operator stated it might shut its shops for 2 weeks beginning March 17, whereas protecting its apps and web sites open, together with Nordstrom.com, Nordstromrack.com, HauteLook.com. The corporate stated it might present pay and advantages for retailer staff through the interval.
Seattle-based Nordstrom operates 380 shops in 40 states, together with 116 full-line shops and 248 off-price Nordstrom Rack shops.
The corporate additionally suspended its share buyback program as a part of a plan to additional minimize its bills and withdrew its 2020 outlook.
“Whereas February gross sales had been according to expectations, the corporate skilled a broad-based deceleration in buyer…