Nordstrom warns financial situation could become distressed because of coronavirus-related store closures [MSNBC.com]
Nordstrom, Inc. (JWN)
Last nordstrom, inc. earnings: 3/3 04:05 pm
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Source: MSNBC.com
NordstromCOVID-19The retailer's assessment of this crisis is one that many are likely dealing with, as businesses that sell nonessential goods such as apparel, shoes and luggage have reached an almost complete standstill."The longer our stores remain closed to the public, the greater impact it will have on our results of operations and financial condition, and if our physical locations remain closed to customers for an extended period of time our financial situation could become distressed," the Seattle-based department store chain said Wednesday in a securities filing.Nordstrom said the pandemic, so far, has had a "substantial impact" on its business. It said it expects its results for the quarter ended May 2, and beyond, to be "adversely impacted in a significant manner."Nordstrom has already taken a number of measures to cut costs and raise additional liquidity, as have many other retailers. It has furloughed the majority of its workforce, suspended its quarterly dividend payment e
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