Nordstrom announced they are cutting hundreds of jobs. 400 jobs will be cut due to sales slow down.
Nordstrom seems to be following of many retailers, shoppers are not spending for high-end stores and prices. Nordstrom is having a hard time selling their merchandise and may have to result to promotions.
Retail expert Robin Lewis writes that “Heavy discounting “will ultimately drag everything down with it, including brand image, potentially quality and essentially the value of all things”
Along with Nordstrom, within the last year Macy’s, JCPenney, Neiman Marcus, and Target have also said they would cut jobs.
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