Thread regarding Nordstrom layoffs

@2tdf+19CSAzJZ

Up to you bud. Tons of image hosting websites

We will be opening new stores, stay hopeful people. Rack++ is on the way in 7-11 style

I have a screenshot of the slide. Where do you want it posted?

What if the Fed falls into a liquidity trap, the country dives into depression, and the web store itself is no longer profitable? Close it?

If a store is not profitable it will be marked for closure. If it is profitable but in need of a major remodel and that cost would make the store unprofitable it will close sooner than later.

I remember during the orientation. The HR person said, “Nordstrom is the only one that opens up spaces and keep expanding. No one is doing it like us, Look at Barneys, Sears, Macys, are closed one by one.” I was like, don’t get to excited dude.

“Not all closures will be announced in one shot”
Next sentence, “there is a ramp down with comms planned. In next 3-5 years it would be down to 10-15 FLS only and rest online”

This makes no logical sense, you better start leaking that PowerPoint slide.. First thing, so there going to close some 85 stores at 17 per year.. Yet there going to take there time this year and announce them every few months, because why not there bored? This is some Sears level logic.

You do realize that’s less then half of Neman Marcus 36 Stores. That would put Nordstrom at around the size of Barneys New York Pre-bankruptcy.

@1izt+19CSAzJZ

if this truly how Nordstrom is going to decide, (on a rolling sales based approach) it seems painfully naive. Most underperforming/low volume stores have been that way or headed that way since the original restructure (aka evolution 1.0) in 2008. Most of these stores have had years of sales data showing a steady decline, heck even successful stores show a slight decline like KOP. I would find it extremely foolish if Nordstrom is like, “wait, North Shore has been struggling and in the bottom 20 percentile for YEARS, but gosh darn it, it’s had a good 3 months”

They should be looking at past sales data or heck, current day flash. Stores are not going to magically change general sales trajectories and for the most part, E-commerce sales gains found thought Covid are here to stay. This “throw a dart on the wall, as the year passes” type store closure rollout seems, as if covid as thought them noting. These closures should be an attempt to future proof Nordstrom, instead this all seems very reactionary

You will find out late March or early April. Not all closures will be announced in one shot, there is a ramp down with comms planned. In next 3-5 years it would be down to 10-15 FLS only and rest online. Racks may continue to exist, maybe fewer

@yfu+19CSAzJZ

when are we suppose to find out?

Minimum 12 FLS stores are going to be closed with conservative estimates. If performance is better than expected, 12 may go down to 5. Worst 18-20 stores may close. I saw the slides folks.

I just think there has been a mindset change for the Nordstrom brothers, (as shown since Blake passed & increased with covid). They see the writing on the wall when it comes to FLS. Hence the pivoting to the rack.

The rack isn’t the ugly step child anymore.

Time sure will tell.

This year Nordstrom will certainly be closing a lot less stores this year than last year given the pandemic of course

@mca+19CSAzJZ

Nordstrom closed 7 stores in 2019 (not to mention there seemingly annual restructuring). In a pretty good economic year.

You think there going to have less then that, in what might be the second worst year for the company? Seems unlikely, Nordstrom has quite a few underperforming stores. I could name you 5 within 3 hours of me. Bare minimum I would say they close 10.

The Rack is already gutted to bare bones & there getting pretty close to running out of jobs to cut at FLS. So this has to translate into store closures, as lord knows they don’t seem eager to axe a big portion of Seattle.

There will not be 20 FLS stores closing. Perhaps 5 or 6 at most.