Recession Hits Nordstrom

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While Amazon and other online retailers are doing just fine, the second quarter wasn't so kind to Nordstrom, as The New York Times reports. Profits were down 21 percent and sales down 4.3 percent, meaning Nordy sales staff may soon be out begging on Pine Street with the other panhandlers, in order to supplement their lower commission income.

And the upside? In our present wintry economy, Nordstrom Rack sales are up. And Web-based Nordstrom Direct saw its sales rise 14.6 percent. And you can bet those call-center workers back in Bangalore aren't on commission.

 
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