Nordstrom Finds Reasons For Optimism In First Quarter Financial Results forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
Nordstrom Reports First Quarter 2021 Earnings
- Sequential improvement in sales trends of more than 700 basis points relative to fourth quarter
- Digital sales increased 28 percent over first quarter of 2019 and represented 46 percent of total
- Company remains on pace to achieve annual sales, earnings and cash flow goals
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SEATTLE, May 25, 2021 /PRNewswire/ Nordstrom, Inc. (NYSE: JWN) today reported first quarter results, which reflected continued recovery and year-over-year improvement in sales and earnings relative to the same period in fiscal 2020. The Company reported a loss before interest and taxes of $85 million, supported by improved sales trends and continued benefits from resetting its cost structure. Loss per diluted share of $1.05 included a debt refinancing charge of $0.41 per share.
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SEATTLE, May 24, 2021 /PRNewswire/ Nordstrom announced today that BP. – a Nordstrom Made brand designed for young adults – is introducing an ongoing collaboration with WILDFANG – a brand that challenges stereotypes and gender norms. BP. + WILDFANG is designed for women-identified customers, and will feature jumpsuits, button ups, blazers, statement tees and accessories in a body-diverse size range from $12-$89.
BP. + WILDFANG
BP. + WILDFANG
The BP. and WILDFANG teams have been working over the last 18 months to develop not only a product collaboration, but an immersive partnership that includes gender knowledge trainings for employees, product research, social responsibility initiatives and marketing research. This work will culminate with a series of BP. + WILDFANG collections beginning in May 2021, each complimented with employee trainings.
Nordstrom Celebrates Pride with Commitment to the Transgender Community
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SEATTLE, May 17, 2021 /CNW/ As part of Pride month, Nordstrom announced today it will be providing a grant to the Trans Lifeline x FOLX Hormone Replacement Therapy (HRT) Care Fund, to support transgender, nonbinary and gender nonconforming individuals. For anyone struggling to access hormone care, this fund will underwrite their choice of Hormone Replacement Therapy (HRT) care through FOLX, with 75% of funds reserved for Black and Indigenous people, and people of color (BIPOC)
Additionally, Trans Lifeline is the giveback partner for our BP. Be Proud brand with 10% of net sales being donated towards the peer support and crisis hotline, and microgrants providing financial resources directly to transgender people across the U.S. and Canada. Between these efforts, Nordstrom hopes to give $350,000 in support of the Transgender community.
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SEATTLE, April 8, 2021 /PRNewswire/ Nordstrom, Inc. (NYSE: JWN) announced today the closing on April 8, 2021 of its previously announced offering of $250 million aggregate principal amount of its 2.300% Senior Notes due 2024 (the 2024 Notes ) and $425 million aggregate principal amount of its 4.250% Senior Notes due 2031 (the 2031 Notes and, together with the 2024 Notes, the Notes ).
The Company will use the net proceeds from the sale of the Notes, together with cash on hand, to redeem in full the $600 million aggregate principal amount of outstanding 8.750% Senior Secured Notes due 2025 (the 2025 Notes ), which were issued in April 2020 during the onset of the COVID-19 pandemic. The redemption price for the 2025 Notes is equal to 100% of the principal amount plus accrued and unpaid interest, including a make-whole premium. The redemption date for the 2025 Notes is April 24, 2021.