Thread regarding Nordstrom layoffs

Ouch

"Revenues for the latest twelve months ended January 30, 2021 are approximately $10.7 billion."
Down 30%?!

https://finance.yahoo.com/news/nordstrom-inc-moodys-assigns-baa3-134609207.html

Rating Action: Moody's assigns Baa3 to Nordstrom's proposed senior unsecured notesGlobal Credit Research - 24 Mar 2021New York, March 24, 2021 – Moody's Investors Service, ("Moody's") today assigned a Baa3 rating to Nordstrom, Inc.'s ("Nordstrom") proposed senior unsecured notes offering. The net proceeds from the offering are expected to be used to redeem Nordstrom's $600 million senior secured notes due 2025. The proposed transaction will unencumber the collateral base of the senior secured notes which includes six stores and six distribution centers and extend its maturity profile.Assignments:..Issuer: Nordstrom, Inc.....Senior Unsecured Regular Bond/Debenture, Assigned Baa3RATINGS RATIONALENordstrom's Baa3/Prime-3 rating is supported by its governance considerations in response to the disruption caused by COVID-19 which include the suspension of its dividend and share repurchases, a commitment to reducing debt, the management of its cost structure during the pandemic resulting in $300 million of permanent cost savings and its reduction of capital expenditures.

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And this -
https://finance.yahoo.com/news/nordstrom-stock-gives-every-indication-111251086.html

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