That's the newer rumor...
14 replies (most recent on top)
Is Nordy still around? Who is buying that overpriced stuff? $hut it down. I am buying form Amazon fashion, it’s a good balance between price and fashion, in COVID times.
$jwn getting crushed today. When it reaches $0, the family can buy up all of the shares, and run it the way they want.
I guess Q4 will also give us some kind of update on Jamie’s declaration letter to the mall landlords that Nordstrom will not pay the full rent on the store space. Right? We have not heard a peep about this since it went down.
His update will acknowledge that the FLS indeed have not achieved the 90% yoy sales target in his letter (hey, unless they do! Yeahright) and that now The Man can go ahead and s— it and in turn default on his own long-term debt obligations.
Will we also get forward guidance on this policy? Will Nordstrom continue to pay partial rent into 2021? With the ongoing threat, of course, of something more extreme if it comes to that — ch 11 restructuring and you’ll get nothing and like it.
So this company will be very entertaining to watch into eoy.
Forgot to add, Pacific Place mall downtown was torn up and renovated. Retailers returning anytime soon? And Barnes & Noble gone off Pine Street, too.
What a mess!
Haha ~ that made me laugh out loud! I think they've been searching for that person since 2003!
And who would want to go stand in line with sniffling sneezing kids in an enclosed area? Or work in there all day?!
Bored until Black Friday, amusing self with the job postings. Should I apply?
Corporate Strategy Manager
https://nordstrom.wd5.myworkdayjobs.com/en-US/nordstrom_careers/job/Seattle-WA/Corporate-Strategy-Manager_R-226415
Principal, Customer Experience and Outbound Routing
https://nordstrom.wd5.myworkdayjobs.com/en-US/nordstrom_careers/job/Seattle-WA/Principal–Customer-Experience—Outbound-Routing_R-207971
“The Principal of Outbound Routing will be responsible for building the business model and technology that makes the magic of shipping to Nordstrom customers happen for millions of customers. This role will be responsible for delivering a strategic delivery program targeted at optimizing our logistics network and routing rules to provide customers speed of delivery at sustainable costs.”
“You will be responsible for the development, deployment and optimization of on-going Supply Chain related customer experience and routing related capabilities and configurations. The role is complex in that it requires a leader who can flex their focus from short-term to long-term fluidly and is able to partner collaboratively with many teams (Merchandising, Marketing, Digital Ops, Inventory Deployment, Store Ops, Field Ops, Data Science Technology, Product Teams) to align on trade-offs and paths forward. The role requires outstanding stakeholder management skills and a track record in delivering results across multiple VP organizations and geographies.”
Nordstrom still working on this in a fundamental sense? For reals? Are things still in a primitive state? Has you not built the Retail Service Platform APIs so as to enable all teh omnichannels?
Ooh, bartender. I can do.
https://nordstrom.wd5.myworkdayjobs.com/en-US/nordstrom_careers/job/Seattle-WA/Bartender-Downtown-Seattle_R-222331
Also listings for seasonal Santa’s helpers — actually attempting this one in this the Plague Year?
Heck, I have not set foot downtown since March. It’s an apocalyptic wasteland now, full of aggressive junkies and other detritus now.
I’m here to help.
Ouch! But that pretty much confirms what I've thought – they are in trouble. Sorry not sorry.
This is pretty harsh:
https://www.google.com/amp/s/seekingalpha.com/amp/article/4379875-nordstrom-dont-bet-on-recovery
Author calls out the cost of corporate debt coming due a year from now, and the FLS burden.
I remember in one meeting they were talking about all the cash they had, and how bad it was because it made them a target for takeover, so they decided to spend it. They bought Hautelook and Trunk Club – at least they don't have to worry about venture capitalists coming for those lmao!
Is it bad that I want to see the whole thing go kaput?
Shut down for good would be better. Liquidate, this cigar has few puffs left, enjoy
Who would lend to the family now, and on what terms? It was always a catch-22 that the stock price is high when credit is available, even if at the shark rates the Nordstrom’s were considering. Now the stock is cheap, but credit is tight. The family would love to buy the float now, gee if only they could.
Nordstrom corp repaid a healthy chunk of their Revolver debt in this last quarter. Assume it is expensive debt, and assume also that the company expects the full credit line to be available again should the company need it in the future. If it could dry up, they would have stuffed the cash in the mattress or in Treasurys. This is the last-resort emergency liquidity now.
This is a layoff board, so the discussion of private Nordstrom must consider the human factors, enabling the company to shed its corporate/financial scaffolding and overhead, to react more quickly and severely, to respond to the personal, longer-term ideas and plans of the family instead of next quarter’s earnings expectations.
Meanwhile we must laugh again at the Board and major holders of $jwn who dug in their heels stubbornly in the greedy hope that the stock would soar to $60/sh or $80 or beyond. They have truly earned our scorn and mockery.
Fake News.
Market cap @ $2B and change, sure, why not? What actions do you think the company would take next? What stays, what goes? Ownership is irrelevant if the business is bleeding money.