Our sustainable growth rate calculation reveals that nordstorm has high financial leverage,

which means it is exposed to a significant amount of financial risk. Like the rest of the world, the
COVID-19 pandemic has created a unique financial situation for Nordstorm. Therefore, due to
the uncertainty of the near future, nordstorms needs to secure a strong liquidity position in order
to 1. Survive through the pandemic 2. Successfully attain its sustainable growth rate. Therefore, 
we recommend that Nordstock raise funding through equity financing by the issuance of
preferred shares. This will not only eliminate financial risk but also ensure that ownership is not
diluted. 
 
Our second recommendation resolves another underlying problem of low profitability which can
be improved by making both its operations and sales and marketing strategies more efficient.
To lower operating expenses, Nordstorn should allocate more resources to accurately forecast
demand. This will allow efficient cost allocation and inventory management, significantly
lowering variable costs for the company. Similarly, nordstorm will be able to enhance its
profitability by implementing social media campaigns and other online marketing campaigns.
these low cost advertising methods perfectly compliments its newly established digital
transformation system and the stay-at-home environment created due to the pandemic. Lastly, 
they also need to exploit e-commerce as in person sales are close to non-existent for the retail
industry under the current circumstances.
 
Thank you for your time, this concludes our presentation, we are open to any questions now.