Nordstrom (NYSE: JWN) was featured in an analysis report highlighting the company’s performance ahead of it recently reported financial results for the second quarter of 2020. The report, written by LikeFolio Founder Andy Swan, reads, “Nordstrom’s Anniversary sale is typically a predictive indicator for the company’s future performance. This year, the event was shifted from July to August. This means the 2019 anniversary sale occurred in 19Q2, and the 2020 anniversary sale is currently underway in 20Q3. So far, Nordstrom Anniversary Sales Purchase Intent mentions are 22% lower YoY. This timing shift and COVID-related store closures paint an unusual picture for Nordstrom demand: 20Q2 demand decreased -13% YoY, but 20Q3 demand is pacing +25% YoY. Last quarter, net sales fell 40%, but digital sales increased +5% YoY, reaching $1.1 billion.”
About Nordstrom
Nordstrom, Inc. is a leading fashion retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 355 stores in 40 states, including 100 full-line stores in the United States and Canada; 248 Nordstrom Rack stores; two clearance stores; and five Nordstrom Local service hubs. For more information, visit the company’s website at www.Nordstrom.com.
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