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Takes precautionary measures to strengthen its financial position.
By: Happi Staff
March 24, 2020
Nordstrom Inc. has announced several precautionary measures to strengthen its financial position in response to the rapidly changing market uncertainty from the novel coronavirus (COVID-19) pandemic. “During this time of great uncertainty, we’re making decisions to best position Nordstrom for our employees, customers and shareholders,” said Erik Nordstrom, CEO, Nordstrom Inc. “We are proactively taking steps to strengthen our financial flexibility to help us navigate through this unprecedented situation.” Nordstrom exited fiscal 2019 with a healthy balance sheet, including $853 million of cash. Nordstrom is taking the following actions to increase its cash position and preserve financial flexibility:
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