Nordstrom Withdraws Its Financial Outlook After Announcing Store Closures
The impacts of social distancing efforts are now rippling through the retailing world. Nordstrom (NYSE: JWN) said on Monday afternoon that it will temporarily close all its stores in the U.S. and Canada for at least two weeks as it seeks to protect employee and customer health while responding to a dramatic drop in customer traffic.
Image source: Getty Images.
In a press release, the retailer said sales trends in February were right within management's expectations, but that the first few weeks of March brought about a "broad-based deceleration in customer demand." That shortfall was especially pronounced in markets that are seeing heavy impacts from the coronavirus.
Source Fool.com
