FILE PHOTO: Shoppers clutch their Nordstrom bags as pre-Thanksgiving and Christmas holiday shopping accelerates at the King of Prussia Mall in King of Prussia, Pennsylvania, U.S. November 22, 2019. REUTERS/Mark Makela
(Reuters) – Nordstrom Inc (JWN.N) has temporarily shut down its corporate headquarters in Seattle due to the spread of the coronavirus in the area, the retailer said in a filing on Wednesday.
The department store chain operator also warned that its results for the first quarter and beyond would be “significantly” hurt by the fallout from the pandemic. (bit.ly/3e8cTmM)
The retailer, like many others, has closed stores, furloughed most of its employees and suspended dividends.
Nordstrom is also looking to raise $500 million in the bond market to bolster liquidity, securing the new bond against a newly established property company with $1 billion-$1.1 billion of real estate assets, IFR, Refinitiv’s capital markets publication reported earlier in the day.
The company has also drawn down $800 million from its existing credit line.
Reporting by Aditi Sebastian in Bengaluru; Editing by Saumyadeb Chakrabarty