Measures to contain the coronavirus outbreak have weighed heavily on retailers, with J.C. Penney , J.Crew, Neiman Marcus and Stage Stores all having recently filed for bankruptcy. Seattle-based Nordstrom said online sales rose 5% to $1.1 billion in its first quarter ended May 2. “We successfully strengthened our financial flexibility by increasing liquidity, lowering inventory by more than 25 percent from last year and significantly reducing our cash burn by more than 40 percent from March into April,” Chief Executive Erik Nordstrom said in a statement.
from Yahoo Finance https://ift.tt/2X9ad20
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