Nordstrom Sales Drop 20% Despite Digital Surge

Nordstrom’s net sales fell 20% in its November-through-January fourth quarter as the winter wave of the coronavirus pandemic roiled the nation’s economy, but the overall drop was cushioned by the retailer’s digital sales, which increased 24% year-over-year to account for more than half of the total. The Seattle-based company said Tuesday its quarterly net revenues were $3.64 billion, down $893 million from the same period in fiscal 2019. Profit for the usually robust holiday quarter was a slender $33 million, or 21 cents per share, compared with $193 million, or $1.21 per share, a year earlier. Read more at The Seattle Times.