I repeat my call for Nordstrom to issue a secondary offering of stock ASAP so as to take care of extraordinarily favorable financial market conditions to secure more CASH PIMPIN' MONEY for the core business.
This is also how we fix the mess the hedge funds created with short squeezes on GameStop, AMC, etc. Lots of beaten down retail companies in this boat. The ruthless hedge funds all thought they could ride the entire sector to zero, but they did not pay attention to shares short versus the float, so now they are being gutted like lake perch. What a fine sight.
The elegant answer is for these companies to issue additional stock, secure the cash, and plan carefully for their future. Cash will be scarce soon, securing it now could save these businesses, including Nordstrom. And Nordstrom ought to live.
A 50MM share offering would raise up to $2B. Sure, it dilutes the existing shareholders, but you get crucial capital to save the entire company through the difficult times ahead.