Nordstrom is banking on Instagram-famous brands to avoid retail's deadliest mistake (JWN)

Co-president Erik Nordstrom told investors at the company's annual Investor Day this week that these partnerships not only help drive traffic to stores, but are also less vulnerable to promotions. The goal is to reverse the headwinds that department stores as a whole have faced in recent years. In an effort to react to this shift, Nordstrom has broadened its assortment in some stores by partnering with a selection of so-called "strategic" or aspirational brands such as Allbirds, Everlane, and most recently, Reformation.