I need to start reading the jwn financial reports again. It was curious that a couple of years ago, Nordstrom would report on their lines of credit, cash that could be raised if absolutely necessary, like a 401(k) loan, almost like it was an asset. But now we have left zero-bound money and corporate debt is getting expensive. Are those LOCs still there? Under what terms? Money is getting dear, how does this affect the solvency of Nordstrom, or most American corporations? They can no longer roll over long-term debt to lower yields. Has the Fed effort to rein in inflation put Nordstrom at risk? Anyone scared?
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Bleak. Why do you spend 24 hours a day obsessing about. Nordstrom. It seems like like you need mental help. I mean your obsession. Get help!
I used to shop the Rack, especially when I worked for jwn, but something changed and the merch there does not interest me. Maybe check shoes, see if a decent pair with actual leather soles made it through. Bought some zella dress socks that itch and bind, they suck. Lots of direct buys of cheap brands, fls merch rare as a passenger pigeon. Meh.
Not worried at all. They’re gonna open more RS providing Job security and room to move up HAHAHAHAHAAAAA
No idea. It would put to bed the idea of a fashion campus in Midtown. I had a nice lunch in 212 recently, and surveyed the store a little. Space seemed ample, although it’s tricky to say if the space is there because Nordstrom isn’t Ross or because inventory is low. I think there’s at least one lower level, but I didn’t go there on this trip, had other things to do.
We’re in very frightening, dangerous times, and the sustained move in yields has caught many off guard. Is Nordstrom’s security blanket still there? If not, how much margin for error is there? Is corp center wargaming this out for varying levels of emergency? Even with the recent actions, they ought to have every single staffer stack-ranked and assessed, should they shift into pure survival mode. I’m talking 200 people in IT, or half that. Are you saying you could not handle this? Then hit the bricks, pal, there’s the door.
Understand that in the recent bank failures, yeah, you had banks not hedging Treasury risk, but also that none of this was an accident— they were pushed. Tens of billions were moved overnight to force these implosions, real money. These are scary times and powerful macro forces, and here is Nordstrom trying to be a loyal scout in the midst of the horror.
The white chocolate bread pudding was different from the one at Alderwood, but still a hit.
Bleak,
Any idea what happened to the rumor of consolidating the NYC Men’s store into the women’s tower? I heard about it some time back.