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Nordstrom Inc reported better-than-expected results for the holiday quarter on Tuesday, helped by increased e-commerce sales and growth in its non-price business, Rack.
Declining household incomes due to the pandemic and high unemployment rates have resulted in increased demand for affordable clothing, which has boosted Rack’s business for Nordstrom, which has also benefited from a greater shift to purchasing online.
Nordstrom Rack sales were down 23% from a year ago, but were better than the 32% decline in the previous quarter, while digital sales of around $ 2 billion were 54% of the activity of the retailer.
NORDSTROM CLOSES 16 CORONAVIRUS FALLOUT STORES
The retailer said the overall trends have improved sequentially …
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- Headline: Nordstrom accumulates low-cost stores and online sales
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