Nordstrom to shutter all its stores to limit coronavirus spread
The company is also withdrawing its annual financial guidance, noting a slowdown in consumer demand
The coronavirus has claimed its largest retail prize.
Nordstrom says it will temporarily close all of its stores for two weeks starting Tuesday as it tries to limit the spread of the new virus.
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The upscale chain, which operates 380 stores including 116 department stores, is the latest retailer to announce temporary closures.
Nordstrom joins Nike, Everlane, Apple and Abercrombie & Fitch, among others, in closing its doors.
Nordstrom says it will continue to pay employees during the period.
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The company said it is also withdrawing its annual financial guidance, noting a slowdown in consumer demand due to the coronavirus.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JWN | NORDSTROM INC. | 22.25 | -0.41 | -1.81% |
It also said that it will be making further cuts to its expenses and capital-expenditure plans.
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“The health and safety of our customers and employees remain our top priority as we continue to make decisions during this rapidly evolving situation,” Nordstrom CEO Erik Nordstrom said in a statement.
The Associated Press contributed to this article.