Next leg of this will be the realization that many of the furloughs are permanent layoffs. A lot of corporations are in this posture, and we can see that things are not going "back to normal".
In this cycle, has Nordstrom even announced headcount numbers in these actions? What I have seen in the press releases etc are ballpark financial numbers, capex to cut, expenses, high-level budget targets.
Maybe with the next earnings we will have a concrete plan for layoffs, with specific numbers of headcount, positions eliminated – a WARN filing? Get your popcorn ready.
Trunk Club was a $197 million goodwill writeoff. Ouch. What is the state of this business today? Are people still signing up for curated boxes of full-price fashion bits? What is the ratio of new subscribers to cancellations?
What impact have BevyUp and MessageYes had for Nordstrom? Were these acquisitions a mistake? Will Nordstrom write down their value now, or pocket it for a future earnings report?
We see what happened to Puerto Rico – closed in 5 years, a new record. Whoops. Was Canada also a mistake?
The first Canada FLS opened in Calgary, AB – chasing the tar sands oil money. Vancouver and Toronto were after the false prosperity of twin insane bubbles in real estate and international grift & money laundering. Canada's future is extraordinarily bleak atm, we will see if these locations are no longer profitable and the Nordstrom Canada strategy is bust.
Manhattan FLS – still waiting to see if Nordstrom has skin in the game of the unwanted superluxe condos above the store. Did Nordstrom overspend on this flashy store? Another mistake?
Jeffrey.
Is Hautelook any more than an email service adjunct to the Rack? I've been getting their emails lately, even bought something, and it felt like HL fulfilling through an actual Rack (not a fulfillment center, imo).
Are there ever consequences at the C-level for mistakes made in the last decade? Besides your stawks getting torpedoed. Who owns these decisions?
SO ... these earnings should be pretty yuge. Good luck to you decent people still hanging on, if you study kaizen and apply the lessons of the seven wastes to your work, you can win in the world. I will bear witness.