Nordstrom Plans to Permanently Close 16 Stores Due to COVID-19
Its Anniversary Sale event has been postponed from July to August.
Earlier this week, Nordstrom announced that it plans to permanently close 16 of its full-line stores due to the ongoing coronavirus pandemic. The company has also stated that it “will incur non-cash impairment charges associated with these closures.” Erik Nordstrom, CEO of Nordstrom, Inc. said in a statement:
“We’ve been investing in our digital and physical capabilities to keep pace with rapidly changing customer expectations. The impact of COVID-19 is only accelerating the importance of these capabilities in serving customers. More than ever, we need to work with flexibility and speed. Our market strategy helps with both, bringing inventory closer to where customers live and work, allowing us to use our stores as fulfillment centers to get products to customers faster, and connecting digital and physical experiences with services like curbside pickup and returns.”
The fashion retailer currently operates 378 stores, which have been temporarily closed since March 17. However, the company plans to “reopen stores in a phased, market-by-market approach,” and will follow a set of guidelines to ensure the health and safety of its customers and employees. As a result, the company’s Anniversary Sale event has been postponed from July to August.
Despite the current crisis, Nordstrom has been serving its customers through its e-commerce business and continues to generate “solid online traffic and conversion and clearing excess inventory through increased marketing and promotional efforts.” For more information, head on over to Nordstrom’s website.
In related COVID-19 news, Neiman Marcus has officially filed for bankruptcy.