Retail is dying, and the FLS is the soul of the company. It cannot survive as a website, a mere fulfillment channel. Nordstrom was always about the shopping destination experience, quality merch, a nice restaurant, the best sales staff.
The stock will dive under $40 soon and keep going, to $20, then lower. The initial spend of $400 million for the dirt for the Manhattan FLS will soon be met with massive ongoing overhead and expenses once the women’s store opens. It has to do heavy sales just to break even. Recession ...
The condos upstairs in NYC will fail spectacularly, wonder if this means additional liability for JWN.
It was a nice store once. Now endure the slow death. When the next cuts at corporate center? So much deadwood.