Earnings this month (Nov)

It seems like we just had earnings for $jwn, I can see why the family wants to take it private and stop bothering with this ritual. This is our last release from the company before the crucial holidays.

I’m interested in two things. First, an update on Jamie’s letter halving the mall rents, which now most likely won’t be paid in full. I also want to hear more about store #212 now that it has been open for a year. Is it profitable? Hopeless? Is there liability for $jwn in the building and the condos upstairs?

What are you looking for in the upcoming announcement?

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The company is down nearly 60% in net sales. 44% down on the year. If it is implied that things are in a good place, that is a lie. Major restructuring after holiday crumbs are factored into year end. By February 1st there will be more labor consolidation than a Mattress Giant sale. Heck, they even fired Most of HR, citing them as a non-essential division.

Covid has proved that old forecast models don’t work. Adapt or die

The Street gave them an outperform rating today and said their balance sheet is strong – sounds like bull-sheet. But said target stock price is 17 which ain't so great...

Will they be able to pretend those two things don't exist?

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Earnings this month (Nov)

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