Nordstrom (JWN) reported its quarterly earnings on Friday, and the results were grim. Net sales dropped 40%, worse than the 33% decline expected by analysts.The company recorded an operating loss of $521 million for the quarter for a loss per share of $2.23. This represented a decrease from net earnings of $37 million during the same period in fiscal 2019, and fell starkly short of Street expectations of a $0.95 loss per share for the quarter. Its shares closed on Friday at $16.13, down more than 12% for the day.Nordstrom shuttered all of its stores on March 17. Some reopened …read more
Source:: Yahoo Finance
