Do you really employ 1,800+ software engineers, at salary levels per that old Blind boast post?
How quickly can you slash capex and expense to staunch the bleeding?
If your internet fulfillment web site and back end really demand so many people, then you are doing it all wrong.
Brick and mortar is dead as disco. What will it take to save the family business?
It is time for bold action!
You're beautiful, Anon.
We can ask the same question as Boeing, although the magnitude is quite different – how much cash was blown on stock buybacks over the years? Who is responsible?
Boeing is headed to bankruptcy now like the approach of a 737 MAX. No more shopping trips to Nordstrom/Rack for the missus.
I predicted 18 by Friday and it’s 20 already... 15 by mid next week. Keep dropping baby. Management wake up
@dcij excellent call. I hope you bought puts.
The market is asking today, Is a store like Nordstrom absolutely required, or is it just "nice to have"?
Is there a place where we can nominate specific people to be canned?
It will be under $18 by end of next week
Earnings this week, at last!
Will store #210 comps be flat yoy?
Will the stock cross under $30 by St. Patrick’s Day? $25?
Will there be any consequences to the fools who were buying back the stock with company funds at $50 or $60?
Respect.
Nordstrom Board of Directors Approves Quarterly Dividend
Business Wire
February 27, 2020 6:00pm
Nordstrom, Inc. (NYSE:JWN) announced today that its board of directors approved a quarterly dividend of 37 cents per share payable on March 25, 2020, to shareholders of record at the close of business on March 10, 2020.
Start cutting for survival
Close stores, freeze tech promotions and bonuses. Save the brand! Tech is handing out money like it’s going out of fashion
Investors who are bearish on Nordstrom (JWN) just got another indicator that the company isn't immune to the death of malls and department stores…
According to the S&P Global Market Intelligence monthly retail outlook report, JWN was among the "most vulnerable" department store and apparel companies. The agency evaluated the companies' likelihood of defaulting on loans or making late repayments.
Although the luxury department store chain reported better-than-expected earnings for the most recent quarter, the beat was driven mostly by stronger discounted product sales… But because JWN's margins are weaker on discounted products, the company is missing out on profits despite the sales increase.
The company's vulnerable position in retail should come as no surprise to our readers. Bill McGilton, editor of Stansberry's Big Trade, has previously noted that weaker-margin discount sales at JWN's off-price Nordstrom Rack stores have been the company's "savior." But he also pointed out that JWN's discount sales aren't protected from competitors.
"There's a continued threat from deep discounters like TJX and Ross Stores and an emerging threat from online apparel renters like Rent the Runway," McGilton said.
The S&P Global Market Intelligence report comes after Pier 1 Imports (PIR) announced last week that it was filing for bankruptcy. The company said it would follow through with its plan to close 450 stores, about 400 of which have already shuttered their doors. As we've previously discussed, this is part of a broader trend in retail. Last year, retailers closed a record 9,300 retail store closures. And thus far in 2020, industry players have already planned 2,000 more, according to Business Insider.
This is part of what McGilton calls the "retail apocalypse." And JWN isn't exempt from the negative effects of declining retail foot traffic as consumer tastes continue to shift in favor of e-commerce companies like Amazon.
Just to clarify... This year we received 97% of our Target bonus. That means,
E1 - 9.7% bonus of their pay, 13% for performers
E2 - 19.5% Standard, 26% Performers
Sr1- 24.25% Standard, 32.5% Performers
Sr2- 29.1% Standard, 39% Performers
And so on...
Standard Payout is - % of your target bonus (97% this year)
Enhanced Payout for Performers - 130% of your target bonus.
People seem to not believe me when I share my Nordstrom TC. Yes, Nordstrom does have decent pay. We have done a lot to modernize our stack (Kubernetes, Kafka, Lambdas, AWS+GCP hybrid). Being in Seattle, it's the only way Nordstrom can stay somewhat competitive in hiring talent. Here are the current TC ranges. Format is Level / Low to High Salary / Annual Bonus / Annual Stock.
1 / 90k - 126k / 10% Bonus
2 / 104k - 150k / 20% Bonus
Sr 1 / 120k - 180k / 25% Bonus
Sr 2 / 142k - 213k / 30% Bonus
Principal / 169k - 253k / 30% Bonus / 15% Stock
Sr Principal / 300k+ / 30% Bonus / 30% Stock
Levels and ranges are the same between software engineers and program managers. Also, new hires tend to be brought in at the high end of the range (or outside the range).
People with zero YOE, no college degree coming out of a coding bootcamp are automatically offered 105k+10% bonus.
Hopefully, this encourages everyone to not discount Nordstrom as a potential employer.