Nordstrom Inc's quarterly revenue declined 6% from pre-pandemic levels, sending its shares down 7% aftermarket as investors pitted the lackluster result against strong growth at rivals Macy's and Kohl’s.
Department-store chain Nordstrom said on Wednesday net sales for the nine-week holiday period ended Jan. 2 dipped 22%, as the retailer saw less traffic due to the ongoing Covid-19 pandemic in the United States.
The 1,193 square-foot Newport Beach hub, located at 2043 Westcliff Drive, will open November 6, and the 1,886 square-foot Manhattan Beach hub, located at 451 Manhattan Beach Boulevard, will open in the coming months.
The department store retailer has reportedly informed the landlords of its full-price namesake locations and its off-price Nordstrom Rack stores that it will only pay half of its occupancy costs for the rest of the year.
Nordstrom will reopen its six locations in New York City on Wednesday, June 24, including its new women’s flagship, men’s store, two Nordstrom Rack stores and two Nordstrom local shops, all located in Manhattan.