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Nordstrom Sees Double-Digit Decline In 2020 Holiday Sales

Nordstrom Sees Double-Digit Decline In 2020 Holiday Sales

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Nordstrom's Sees Double-Digit Decline In 2020 Holiday Sales

Nordstrom saw its net sales decline by 22 percent during the nine-week holiday season that ended on January 2.

The company’s November and December sales were in line with its expectations for a decrease in the low-twenties range in Q4, the company announced in a press release

On the bright side, Nordstrom saw its digital sales grow 23 percent over last year. Overall, digital sales represented 54 percent of total sales, up from 34 percent during the same period in fiscal 2019.

The increase in digital ordering came as fewer consumers chose to make their holiday purchases in-store. Approximately 11 percent of orders placed on Nordstrom.com were picked up in-store, which accelerated to more than 20 percent during the week preceding Christmas. The company also saw an increase in digital ordering on its Nordstrom Rack website. Nearly 9 percent of Nordstromrack.com orders were picked up in-store — a result of an integration of Nordstrom Rack store and online inventory in October.

“We’re encouraged by the increasing momentum throughout and following the holiday season as we continue to unlock new ways to better serve customers on their terms with greater convenience and connection,” said Nordstrom CEO Erik Nordstrom in the release.

“By leveraging order pickup and store fulfillment capabilities across our two brands of Nordstrom and Nordstrom Rack, we’re seeing benefits to our customers as well as to our business. We’re deeply appreciative of our team’s focus on providing customers with a strong holiday offering during these challenging times.”

Nordstrom was the major retailer in the U.S. to make the bulk (54 percent) of its sales online. However, the company has struggled to cash in on this shift due to the costs associated with maintaining a large brick and mortar presence, which is proving to be a drag on its business in the current environment. 

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