Department store chain Nordstrom Inc. had a bruising first quarter with a 40% drop in sales that spurred a decision to embark on additional spending cuts. However, the Seattle-based company appears to be in better shape than some competitors including J.C. Penney and Neiman Marcus, which have filed for bankruptcy protection.
Nordstrom Plans $500 Million in Cuts to Overhead After Sales Drop 40%
Off-Price Fared Worse Than Full-Price Stores During COVID-19 Crisis
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