Nordstrom (NYSE: JWN) swung to a loss in the first quarter of 2020 hurt by the COVID-19 related charges. The fashion retailer reported a loss of $3.33 per share compared to a profit of $0.23 per share in the prior-year quarter. After-tax COVID-19 related charges totaled $173 million or $1.10 per share. Sales dropped 40% to $2.03 billion in the first quarter.
In March, the company withdrew its fiscal 2020 outlook due to the uncertainty related to COVID-19 pandemic. Nordstorm also suspended its dividend and share repurchases.
Applying a phased market-by-market approach, Nordstorm began reopening stores in early May with approximately 40% of its fleet now open.
JWN stock was trading up about 1% immediately after the earnings announcement.
Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per
Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus
Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000