An individual walks into the Nordstrom retailer open for enterprise as New York Metropolis strikes into Part 2 of re-opening following restrictions imposed to curb the coronavirus pandemic on June 29, 2020 in New York, New York.
Rob Kim | Getty Pictures
Nordstrom on Wednesday reported a gross sales decline of twenty-two% for the nine-week interval ended Jan. 2, because the division retailer chain struggled to get customers to come back into its shops for attire, footwear and vacation items.
Its shares fell greater than 2% in after-hours buying and selling.
Nordstrom mentioned its digital gross sales through the vacation interval grew 23% from 2019 ranges, and represented 54% of whole gross sales, in contrast with 34% a yr in the past. And greater than 30% of consumers’ on-line orders had been fulfilled by its shops, the corporate added.
The double-digit gross sales decline was in-line with expectations it had set for the fourth quarter, Nordstrom mentioned.
“We’re inspired by the rising momentum all through and following the vacation season,” CEO Erik Nordstrom mentioned in an announcement.
The corporate continues to anticipate a worthwhile fourth quarter, but it surely mentioned it nonetheless faces pressures because of heightened delivery surcharges at its rising e-commerce enterprise.
Nordstrom is ready to carry a digital investor occasion on Feb. 4, and can report its fourth-quarter outcomes on March 2.
On Tuesday, the attire retailer City Outfitters reported disappointing vacation gross sales because of declines in retailer visitors due to the Covid pandemic. Whereas big-box retailer Goal on Wednesday mentioned same-store gross sales climbed greater than 17% over the vacations, boosted by features on-line. Off-mall retailers, like Goal, Greatest Purchase and Walmart, have largely been performing higher than mall-based corporations.
Nordstrom shares are down about 10% over the previous 12 months. The corporate has a market worth of almost $6 billion.
Learn the complete press launch from Nordstrom.