Nordstrom Reports Large Drop in Holiday Sales
Nordstrom’s holiday sales (stores plus digital) fell 22%, the company reported Wednesday afternoon.
While the company touted a 23% increase in digital sales, it did not say how much brick-and-mortar sales declined.
Digital sales soared to 54% of total sales during the nine weeks ended Jan. 2 compared to 34% of total sales in the same period last year.
Overall, total sales improved sequentially from November to December and have maintained that pace in January.
The 22% decline for November and December combined was in line with the company’s expectations.
The large drop in Nordstrom’s holiday sales illustrates how difficult the pandemic has been for department stores, which are underperforming compared to many retailers in the action sports, sporting goods and activewear space.
Some specialty retailers in the malls are also performing better including The Buckle, Tilly’s and Zumiez.
Department stores are being hard hit by less traffic in stores and the emptying of city centers as workers stay home. The pandemic has also reduced the need for many categories such as special occasion apparel, back-to-school clothes, and career wear.