Retail companies are looking to stage a comeback. Jharrone Martis, Director of Consumer Research at Thomson Reuters, was with us to break down whether the companies were ready for a retail rebound.
Nordstrom initially said it was interested in going private back in the summer. Martis said the company believes in order to take business to the next level, it would have to go private. Martis, however, said that's not necessarily the case. She said the Nordstrom Rack and the Nordstrom namesake brand have online sites that have seen double digit growth over the last year. She also points to a loyal customer base.
Nordstrom is also making a big bet by opening up its first men's store in NYC. The store set to open in New York City in April, on Broadway between 57th and 58th streets. Martis sees this as a good opportunity to reinvent its in-store experience.
Martis also touched on the outlook for Gap. She said Old Navy remains the bright spot due to its value proposition for the entire family, not just children.
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It's a tough time for the job market. Amid wider economic uncertainty, some analysts have said that businesses are at a “no-hire, no fire” standstill. At the same time, some sizeable layoffs have continued to pile up — raising worker anxieties across sectors. Some companies have pointed to rising operational costs due to U.S.'s new tariffs, while others have redirected money to artificial intelligence investments. Workers in the public sector have also been hit hard. Federal jobs were cut by the thousands earlier this year. And many workers are now going without pay as the U.S. government shutdown has now dragged on for more than a month.
