Thread regarding Nordstrom layoffs

Anniversary Sale 2020

The retail trade press suggested August for it last month, and now Nordstrom web site does not list an actual date expected for the sale. Anniversary Sale discounts a swath of new fall merchandise for a brief window in the retail doldrums of summer.

But you can't have Anniversary Sale without the full-line stores. The point of the sale is to lure in customers to do their fall shopping ahead of the back-to-school window, to buy the special items, but also (especially!) to pay full-price for many others. You've got to complete the look.

This does not work in an online-only environment. Customers will show up, buy up the sale merch, qualify for free-shipping, and disappear, leaving lousy margins in their wake.

The stores have to open first. And who knows what the logistical problems are like now getting the coolie-labor apparel out of SEA. Nordstrom has cut their orders from vendors, so now there is a chicken-egg problem about how to get the great retail machine running again. I need to get on the Board so I can be privy to these tense discussions.

Plus the public is broke. Just wait until even the "wealthy" ones discover their real-estate is worth only a quarter of what they had thought.

With a six-month (?) lead time, Nordstrom should have negotiated the sales buys long ago, it's possible that some of it is sitting in the distribution centers. I have no idea.

So will we have an Anniversary Sale this year? What do you think?

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| 1011 views | | 4 replies (last May 6, 2020) | Reply
Post ID: @OP+14NC0zQS

4 replies (most recent on top)

Lots of specifics today, sounds very constructive now. August stated for the Sale:

Nordstrom Announces Store Closures, a Restructuring, and Safety Protocols

https://shop-eat-surf.com/2020/05/nordstrom-announces-store-closures-company-restructuring-and-new-store-safety-protocols/

By Tiffany Montgomery | Published May 5, 2020
Important industry customer Nordstrom provided a newsy update on its business Tuesday afternoon that included store closure plans and a corporate restructuring with job cuts.
Nordstrom also provided details about how the company plans to make shopping in stores safe during the COVID-19 crisis, including keeping tried on or returned merchandise off the sales floor for a period of time.

Store Closures

The big news is that Nordstrom has decided to permanently close 16 of its 116 full price Nordstrom stores. It did not release a store closure list.

It is also restructuring regions, support roles and its corporate organization to “increase speed and flexibility” which will save $150 million annually. That on top of $200 million to $250 million in previously announced cuts, means the company is reducing non-occupancy overhead expenses by 20%.

Since stores have been closed, Nordstrom had been generating solid online sales and traffic, helped by promotions and increased marketing in a quest to clear excess inventory.
The company has also added capabilities fleetwide to fulfill online orders through stores. More than half of Nordstrom.com orders are currently fulfilled from full-line stores, and 25 % of Nordstromrack.com and HauteLook.com orders are now fulfilled by Nordstrom Rack stores.
Many retailers have been fulfilling online orders from stores as much as possible during the crisis as a way to help clear store product and leverage inventory.

Stores are starting to reopen based on local guidelines, and as they open, Nordstrom is installing the following safety practices:

Conducting health screenings for employees
Keeping tried on or returned merchandise off the salesfloor for a period of time
Providing face coverings for employees and customers
Creating space for social distancing of six feet or more, including limiting the number of customers and employees in the store
Increasing cleaning and sanitization
Modifying the fitting room experience
Continuing to offer contactless curbside services at full-price stores
Changing hours of operation
Pausing or adapting high-touch services and customer events.

The company also announced it is moving its popular anniversary sale to August from July.
Nordstrom currently has 116 full-line stores, 247 Nordstrom Rack stores and five Nordstrom Local service hubs.

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Post ID: @2fao+14NC0zQS

This was the standard term only a century ago – per Ralph Townsend's classic polemic "Ways that are Dark: The Truth About China" I have here– for the masses of anonymous nearly-slave labor that characterize southeast Asia.

These are the people who toil away in dreary factories making your 7 for All Mankind jeans, inhaling aluminum dust while polishing your iPad, recycling your outmoded electronics by hand when you throw them out. They sew the sc-aps of dog fur on next year's jackets for the FLS.

They are "coolies", they provide coolie labor, which you consider horrible and beneath you.

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Post ID: @2hqk+14NC0zQS

"Coolie labor"????

Don't you have a cross to burn Cletus?

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Post ID: @2txu+14NC0zQS

There should be sale this year. Sell all assets and shut this down for good

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Post ID: @1pcu+14NC0zQS

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