We all suspected it, however here’s proof, NYC Flagship isn’t doing well folks. I remember, as an employee when the store was opened we were all questioning the opening.
Read more:
https://dailyhive.com/vancouver/vancouver-nordstrom-store-performance-canada-shutdown
Me and my coworker predicted that when the building was finished we would be in a down cycle for real estate and we were right — they have a huge debt tied to that building and super luxury condos are just not big sellers these days… smooth move Nordstrom boys.
I remember a managers daughter crying when it opened. Nordstrom is a cult. Not cultured! Big difference!!!
ya win some and you lose some.
If I remember right, Vancouver did over $300 million a few years back. Monstrous numbers. There's an article from 2019 where analysts expected NYC to do up to $700 million a year. Now it's not doing any better than Nordstrom's mall based stores- what a way to set $500 million on fire.