Jim Cramer on Nordstrom's Plans to Go Private

Jim Cramer said a company doesn't have to go private to survive in retail during the age of Amazon. Instead, it's all about utilizing the right resources.

Author:: Jim Cramer
Publish date:: Sep 13, 2017 11:44 AM EDT

TheStreet's Action Alerts Plus charitable portfolio manager Jim Cramer says he wonders why people are so reluctant to buy that Nordstrom (JWN) - Get Report is in close talks to go private. "Maybe they don't know the Nordstrom brothers; honest as the day is long," Cramer said. Cramer said that unless the story is refuted, the stock is likely to go higher.

In addition, Cramer refuted the theory that to survive in retail in the age of Amazon (AMZN) - Get Report as many retailers continue to shutter stores, a company has to go private. Instead Cramer argued that a retailer simply has to be a visionary, utilizing all the resources offered by VMware (VMW) - Get Report , New Relic (NEWR) - Get Report , Red Hat (RHT) - Get Report , Google Web Services (GOOGL) - Get Report , Salesforce (CRM) - Get Report and Microsoft (MSFT) - Get Report Azure to "get the basics."

Cramer noted that Nordstrom has started the process, but there's still a long road to go. "Nordstrom is pretty far along, but not far enough," Cramer said.

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