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I hope this actually does change Nordstrom because their corporate direction has been terrible over the last few years while trying to maximize shareholder valu

by dagmx 2y ago

I hope this actually does change Nordstrom because their corporate direction has been terrible over the last few years while trying to maximize shareholder value. They’ve closed all Canadian operations, despite their Vancouver store being one of their highest earning stores in North America. They’ve closed several west coast stores in the US as well, citing crime but insiders had said it was because they want to move into lower cost areas instead. Basically they’re trying to move into the market that JC Penny and Macy are leaving open, which has been slowly making Nordstrom itself much lower quality as a shopping experience. Over the last few years they’ve turned their shopping experience into more of a dumping ground of random clutter Perhaps going private will let them focus on treating their experience as part of the product.

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cogman10 2y ago
The retail death spiral. Sales are down, so they cut costs by cutting staff and presentation. That ultimately turns the store into a warehouse of goods which in turn discourages shopping further. With that decline they often resort into cutting store operating hours which further kills off shopping. One of my local malls is open from like 11am to 6pm on the weekdays and 8pm on the weekends. Even if I wanted to shop there, it's hard because they are closed during normal work hours. The shops and stores are all manned with a skeleton crew. I've seen Macy's have a single employee manning the entire store.
- stuckindoors 2y ago
  When companies go public - it’s no longer about running the store/company well or efficiently. It is an extractive process as much as possible at least in the last 20 years. Public companies think quarter to quarter and no longer think long term. Only smaller private companies are able to invest in the long run and invest in the future. The only group of public companies are that can swim against this tide are the tech darling like intel, apple, Microsoft, google. I worry that the corporate quarter to quarter mentality is ruining American corporation that is taking American capitalism to a new low. Maybe Nordstrom has a chance if they are private in the long run.
  - luckman212 2y ago
    > "tech darling like intel" I guess you haven't looked at INTC stock price recently? As of yesterday's close on 2024-12-23 it's essentially unchanged from where it was 30 years ago. If you factor in inflation (which you should) it's actually lost 50% of its value over that time period. Apple, Microsoft and Google are different animals.

by dagmx 2y ago

deleted 2y ago

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cogman10 2y ago

The retail death spiral. Sales are down, so they cut costs by cutting staff and presentation. That ultimately turns the store into a warehouse of goods which in turn discourages shopping further. With that decline they often resort into cutting store operating hours which further kills off shopping. One of my local malls is open from like 11am to 6pm on the weekdays and 8pm on the weekends. Even if I wanted to shop there, it's hard because they are closed during normal work hours. The shops and stores are all manned with a skeleton crew. I've seen Macy's have a single employee manning the entire store.

stuckindoors 2y ago
When companies go public - it’s no longer about running the store/company well or efficiently. It is an extractive process as much as possible at least in the last 20 years. Public companies think quarter to quarter and no longer think long term. Only smaller private companies are able to invest in the long run and invest in the future. The only group of public companies are that can swim against this tide are the tech darling like intel, apple, Microsoft, google. I worry that the corporate quarter to quarter mentality is ruining American corporation that is taking American capitalism to a new low. Maybe Nordstrom has a chance if they are private in the long run.
- luckman212 2y ago
  > "tech darling like intel" I guess you haven't looked at INTC stock price recently? As of yesterday's close on 2024-12-23 it's essentially unchanged from where it was 30 years ago. If you factor in inflation (which you should) it's actually lost 50% of its value over that time period. Apple, Microsoft and Google are different animals.