Cramer says the company is spending a lot of money online. He says the company is known for its great salespeople in stores and shoppers end up buying far more than they realize. But Cramer asks if they are spending this much money on their website, then what happens to their core stores? He believes they will have less business.
Cramer likens companies such as this to newspapers; the more they spend on their website, the less people read the hard copy. He calls the Nordstrom stores hard copies that need to do better and believes the stock will not make a comeback anytime soon if Nordstrom continues to spend too much money on technology.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.