Nordstrom Quietly Purging its Stores of Michael Kors

Nordstrom and Michael Kors are on the rocks. The Seattle-based department store is quietly dumping the designer’s handbags in more than half of its 121 full-line stores across the country, according to a research report on Tuesday. Nordstrom is also feeling squeezed by rival Macy’s, which has a glut of Kors bags, many of them on sale, the report from Wedbush Securities said. The markdowns are forcing Nordstrom to match the discount.