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Nordstrom quarterly sales plunge 53%

Credit: REUTERS/MIKE SEGAR

Nordstrom Inc reported a 53% fall in quarterly sales on Tuesday, as its stores were temporarily shut for about half of the reported quarter due to the COVID-19 pandemic.

Aug 25 (Reuters) - Nordstrom Inc JWN.N reported a 53% fall in quarterly sales on Tuesday, as its stores were temporarily shut for about half of the reported quarter due to the COVID-19 pandemic.

The Seattle-based company posted net sales of $1.78 billion for the second quarter ended Aug. 1, compared with $3.78 billion, a year earlier.

Nordstrom reported a net loss of $255 million, or $1.62 per share, compared to a profit of $141 million, or 90 cents per share, a year earlier.

(Reporting by Nivedita Balu in Bengaluru and Melissa Fares in New York; Editing by Vinay Dwivedi)

((Nivedita.Balu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 4822/ Twitter: @niveditabalu;))

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