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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