With option for the brothers to use daddy’s checkbook be very cautious internals. The executive leadership has failed and without ownership or plans to combat the retail environment, taking company private is only a bandaid they can afford. They are being false to public on their “ plans” . The only plan they own today is to have daddy pay to keep press quiet.
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$JWN crashing again, off 9% already.
The 2s and 10s inverted overnight – anyone want to go shopping for $75 t-shirts?
Didn't think so.
$JWN crushed this morning – $26.93 so far – down over 7%. Whoa ...
Do the needful, Erik, Pete, and Jaime.
Do the needful and fight the tech monster that has gouged you so badly over the years.
Stock at a new 52-week low each week, Anniversary Sale is concluded, important earnings two days away, 1,800+ overpaid, entitled techies. These ingrates are bleeding you.
How to conduct the mass lay-off?
Start by writing down the dumb startup acquisitions and sending all these clods home. Easy.
Next, sort everyone in tech by total compensation, descending. Get rid of anyone with a “competitive” salary, and certainly anyone with RSUs. There are herds of kids who will do this work, even better, hungry, for under six figures.
Company survival on the line? Time to cut the fat and get serious.
$JWN new 52-week low today, almost broke through $28. Looks like the Nordstrom family buyout story has passed, for now. They will trot it out as the stock continues its descent.
Earnings this Thursday. If devops and Cloud are done right, can they cut 1,000 from the rank and file as soon as Friday?
This is sad
What do you suppose they really want to do? Their name is on the door, sure, why not let them have it all? What do they really think? What are their honest ambitions for the future?
Except that the moneychangers in the temple want some serious vig to give them a shot. The risks are real!
The new firm would have to be much, much smaller and actually agile. It would be comparable to the retail companies saddled with debt and k–led by the private equity predators.
But Nordstrom's real problem isn't the internet or awful millennials. It's the possibility that maybe, just maybe their core customer base isn't wealthy at all. Maybe they're all holding worthless chips at this ponzi poker game, their savings, their mortgaged bubble homes, their fake service economy jobs.
Nordstrom's real worry is that a great reckoning is long overdue, and the last thing anyone plans to do is to go shopping.