Word on the street in corporate gossip is The Family isn't happy with the ROI from the NYC campus. That major investment is turning sour and weighing down. They're working on plans to fold the men's store into the basement of 212. If sales don't turn around it's looking to start Q3 2024.
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Last fall, I met a friend from England in NYC. I made the mistake of taking her shopping in the flagship store. There was absolutely nothing interesting or unique in the store. The Nordstrom at the Mall of America has more interesting items than NYC. And that’s saying something…
They can afford that store and it'll stay open. Just cut labor hours in the other stores. Seriously I used to have a team of 25 people. Now it's down to 5.
It really would be beneficial to move the men’s store into the women’s tower as so many women shop for men and this would increase the ease of cross-sell. The men’s store is really weird to navigate as well. Certain levels you can only enter from street level or from going up then down the stairs, it’s kinda a mess. You can definitely tell it was office space prior.
Would be a cost cutting measure, however they might actually benefit and have higher sales by such move.
New York a mess..since COVID.. not wanting to lock criminals up has been a disaster for the city.. if only they saw it in their crystal ball..
Saks had to put barbed wire around their store during riots.. it isn't entirely Nordstroms fault as men is a growing market
The disaster that is store 212 should see the family exit the company. Sell to the Mexican retail interest?
Wasn’t this the plan over a year ago?
Good