Jim Cramer says Nordstrom doesn’t have a fix for its problemsCNBC 12/20/2016
Jim Cramer, the popular host of CNBC’s “Mad Money,” is worried about Nordstrom, and sees the chain’s woes as representative of the slide in entire the department store channel. Reacting to JPMorgan’s downgrading of Nordstrom to “underweight” late last week, Mr. Cramer pointed to the retailer’s apparent inability to reverse the migration of shoppers online. Nordstrom’s store foot traffic, according to JPMorgan, is at the worst level since 1972. “The better Nordstrom’s website becomes the less incentive you have to actually go to their stores,” commented Mr. Cramer.