TheStreet’s Jim Cramer is keeping an eye on Nordstrom (JWN) as the department store sets to post its second quarter results after the bell on Thursday. Cramer says, ‘Nordstrom is a very, very interesting situation. They have spent billions developing their website, they regard their principal competitor to be Amazon, they have a fantastic growth division in Rack, those of us who shop at Nordstrom know that service is really important to them. They have a very compelling story to tell. That said, retail sales have been horrendous.’ Cramer says Nordstrom has to distinguish itself first by saying that they have finished spending on e-commerce, then that they’re going to grow Rack even more aggressively and finally that the Canadian expansion is on target. Further, Cramer would like to hear more details about the company’s Manhattan store saying, ‘I want more clarity about where it is, is it going to open and when?’ He concludes by saying, ‘Nordstrom is better than Macy’s but it’s still a retailer and retail sales are weak.’
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