Nordstrom Inc., impacted by declining revenues and charges related to the withdrawal from Canada, reported a net lack of $205 million in the primary quarter, in comparison with a profit of $20 million within the year-ago period.
For the primary quarter ended April 29, the Seattle-based retailer recorded $309 million of estimated pre-tax charges related to the wind-down of Canadian operations, consistent with its previously estimated range of $300 million to $350 million. The primary quarter 2023 results include Canadian operations through March 2, when it discontinued support for Nordstrom Canada. The corporate is early within the wind-down process and your entire shutdown of Nordstrom’s Canada operations — six shops, seven Rack units and e-commerce — needs to be accomplished this month.
Nordstrom’s loss before interest and tax was $259...
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