March 17, 2020
Photo by istock.com
Major fashion retailer Nordstrom is closing all its stores, more than 350 across the U.S., Canada and Puerto Rico, for two weeks due to the COVID-19 outbreak.
It will keep its online channels open, according to a CNBC report. The news comes as more than a dozen retailers announced temporary closings in the past week.
The retailer is withholding its 2020 earnings outlook given “a broad-based deceleration” in customer demand, according to the report.
“During this unprecedented period of uncertainty, we have in place the appropriate business continuity plans, operational framework and team,” CEO Erik Nordstrom said in a statement.“This, in concert with ending 2019 with a solid financial position and healthy balance sheet, gives us the ability to weather this challenging moment in time.”
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Topics: Coronavirus / COVID-19, Retail – Specialty Stores
Companies: Nordstrom