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NORDSTROM Nordstrom Reports First Quarter 2021 Earnings May 25 , 2021 ● ● Sequential improvement in sales trends of more than 700 basis points relative to fourth quarter Digital sales increased 28 percent over first quarter of 2019 and represented 46 percent of total Company remains on pace to achieve annual sales , earnings and cash flow goals SEATTLE , Wash . ( May 25 , 2021 ) - Nordstrom , Inc. ( NYSE : JWN ) today reported first quarter results , which reflected continued recovery and year - over - year improvement in sales and earnings relative to the same period in fiscal 2020. The Company reported a loss before interest and taxes of $ 85 million , supported by improved sales trends and continued benefits from resetting its cost structure . Loss per diluted share of $ 1.05 included a debt refinancing charge of $ 0.41 per share . For the first quarter ended May 1 , 2021 , net sales increased 44 percent from the same period in fiscal 2020 and decreased 13 percent from the same period in fiscal 2019 , representing a sequential improvement of 720 basis points relative to the fourth quarter of fiscal 2020. Sales trends reflected broad - based improvement across Nordstrom and Nordstrom Rack , in stores and online , and across regions and merchandise categories . During the quarter , Nordstrom expanded the rollout of its market strategy to its top 20 markets , which comprise approximately 75 percent of sales . " We are encouraged by sales trends both in our stores and our digital business , supported by an improving consumer environment and strong execution , " said Erik Nordstrom , chief executive officer of Nordstrom , Inc. “ Looking ahead to summer , we are well - positioned to continue to capitalize on pent - up demand , and are further strengthening our position as we execute on our strategy to win in our most important markets , broaden the reach of Nordstrom Rack and increase our digital velocity . " Sales benefited from improving trends in categories such as occasion - based apparel , handbags , sunglasses and swimwear , while home , active , designer and beauty categories continued to perform well . The Company expanded its assortment in both Nordstrom and Nordstrom Rack , while also reducing its inventory overage from the end of the fourth quarter of fiscal 2020 faster than expected . The Company is balancing inventory levels with sales while managing receipt flows to mitigate potential supply chain disruptions as the year progresses . " We are continuing to serve our long - time and new customers on their terms , with highly relevant and current product , more choices and better service , allowing us to deliver on our commitment to get ' closer to you ' , " said Pete Nordstrom , president and chief brand officer of Nordstrom , Inc. " With the efforts of our incredible employees and close partnership with our vendors , we have aligned inventories with current sales trends and are energized by the momentum we're seeing in the business and the plans we have for a strong Anniversary Sale . " As previously announced , Nordstrom further improved its financial position in April by redeeming $ 600 million of 8.75 % secured notes and issuing lower - coupon unsecured notes due in 2024 and 2031. As a result of these transactions , the Company's bond portfolio is once again entirely unsecured . These transactions will reduce annualized interest expense by approximately $ 30 million , beginning in the second quarter of fiscal 2021 . FIRST QUARTER 2021 SUMMARY Total Company net sales increased 44 percent compared with the same period in fiscal 2020 , during which stores were temporarily closed for approximately half of the quarter . Sales decreased 13 percent relative to the same period in fiscal 2019 , and marked sequential improvement of 720 basis points relative to the fourth quarter of 2020 . For the Nordstrom brand , net sales increased 37 percent compared with the same period in fiscal 2020 , and decreased 13 percent compared with the same period in fiscal 2019. For the Nordstrom Rack brand , net sales increased 59 percent compared with the same period in fiscal 2020 , and decreased 13 percent compared with the same period in fiscal 2019 . Digital sales increased 23 percent compared with the same period in fiscal 2020 and increased 28 percent compared with the same period in fiscal 2019. Digital sales represented 46 percent of total sales during the quarter . Gross profit , as a percentage of net sales , of 31 percent increased approximately 2,000 basis points compared with the same period in fiscal 2020 , primarily due to lower markdowns and leverage from higher net sales volume . Gross profit , as a percentage of net sales , decreased 260 basis points compared with the same period in fiscal 2019 as a result of deleverage on lower sales and lower merchandise margins , partially offset by permanent reductions in buying and occupancy costs .