Department stores are in real trouble

Cramer says department stores are in real trouble and Nordstrom is ‘cannibalizing themselves

While some segments of retail are alive and well, Jim Cramer can’t ignore the pain that department stores like Nordstrom are in.

For years, traditional mall-based retailers have struggled desperately to keep up with Amazon, and have made big moves to build out their omnichannel business to compete.

Unfortunately, for some retailers, it simply wasn’t enough.

 JPMorgan downgraded Nordstrom to “underweight” on Friday in the wake of recent meetings with the company’s management team. Nordstrom was once considered the best in the business, but the stock declined nearly 9 percent after the note was released.

 

View entire article on CNBC.com

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