Nordstrom to close stores in U.S., Canada, withdraws 2020 outlook due to coronavirus, Retail News, ET Retail

Attire retailer Nordstrom Inc on Monday withdrew its fiscal 2020 forecast and mentioned it would shut shops in the United States and Canada for two weeks due to the coronavirus pandemic.

The firm mentioned it would shut shops, such as Nordstrom entire-line, Nordstrom Rack and Trunk Club clubhouses, successful March seventeen, in an hard work to arrest the spread of the virus.

It will supply pay and advantages to its retail outlet staff members through the period, Nordstrom mentioned.

The Seattle-centered retailer also suspended share repurchases as section of a approach to even further minimize its fees.

“Even though February sales were in-line with anticipations, the firm professional a broad-centered deceleration in consumer need about the earlier pair of weeks, significantly in marketplaces most impacted by the virus,” Nordstrom mentioned.

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