Nordstrom Takes Steps to Improve Liquidity [The Motley Fool]
Nordstrom, Inc. (JWN)
Last nordstrom, inc. earnings: 3/3 04:05 pm
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Source: The Motley Fool
Jennifer Saibil(TMFanibird)Author BioJennifer grew up in New York and spent a lot time shopping, which really helps her write about retail. Prior to joining The Fool as a contract writer, Jennifer had traded her finance degree for diapers and tantrums. When she isn’t writing, she can be found reading while she avoids housework.Many retailers have been hit hard throughout the COVID-9 pandemic as stores remain shuttered and customers stick to their screens. While e-commerce is thriving, it's still a relatively small piece of the pie for most retailers, and they're expanding their cash holdings to stay afloat until this rough patch evens out.Taking extra measuresNordstromNYSE:JWNImage courtesy of Nordstrom, Inc.In addition to $80 million in cash at the beginning of the quarter, the company drew down an $800 million line of credit.The company is reducing operating expenses and capital expenditures by $00 million.Now, the company is amending its line of credit to give itself greater flexib
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