Nordstrom Inc. reported a bigger-than-expected loss yesterday, as the COVID-19 pandemic shut its stores for about half of the reported quarter and consumers stayed home with little need for designer clothes, Reuters reported. Like many of its peers, Nordstrom suffered from a pandemic-induced months-long closure of its stores across the United States, bringing foot traffic to a standstill. Shoppers staying home to curb the spread of the virus, didn’t find themselves purchasing as much upscale apparel and formal work attire. “We’re confident that we can improve sales trends in the second half of the year and beyond,” said Pete Nordstrom, president and chief brand officer of Nordstrom. “Our inventories are current and in-line, and we’re focused on amplifying relevant categories, brands and trends to meet customers’ changing preferences.” Seattle-based Nordstrom reported a net loss of $255 million, or $1.62 per share, compared with a profit of $141 million, or 90 cents per share, a year earlier.
