While closing down 16 outlets — or 14 percent of your total store count — might seem drastic, retail consultant Neil Saunders tells USA Today that the decision was not only a wise one, it was also long overdue. "For too long, Nordstrom has had stores in locations that are suboptimal, and which were not delivering good returns," Saunders says. "Getting rid of these will help stem losses and allow Nordstrom to focus investments in areas where it gets more bang for its buck."
Nordstrom CEO, Erik Nordstrom, seems to support that. When he discussed his company's earnings, he said, "We're entering the second quarter in a position of strength, adding to our confidence that we have sufficient liquidity to successfully execute our strategy in 2020 and over the longer term."
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