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Brick and mortar stores are hurting many retailers, but Nordstrom is pushing them as key to the company's future

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The growth of e-commerce has gutted many traditional retailers, and many companies have shifted their focus away from physical stores. But Nordstrom is doubling down on the importance of storefronts to its future.

New York The growth of e-commerce has gutted many traditional retailers and led to the shuttering of brick-and-mortar stores. In response, many retail companies have shifted their focus away from physical stores and tried to rapidly grow their digital presence.

But not Nordstrom . The company is doubling down on the importance of storefronts to its future. The retailer's stock surged as much as 10% after hours Thursday, after it posted better-than-expected earnings and shared updates about the future of its brick and mortar footprint. The company posted earnings of $0.81 per share for the three months ending November 2, double the earnings per share from the same quarter in the prior year and well above Wall Street estimates of $0.63.

 

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