Nordstrom is a leading fashion retailer in the United States, known for its high-quality apparel, footwear, accessories, and home decor
The company operates a chain of department stores and off-price retail locations, providing a diverse selection of products from both established and emerging brands. Nordstrom places a strong emphasis on customer service, offering a personalized shopping experience both in-store and online. Through its commitment to quality and innovation, Nordstrom aims to enhance the shopping experience and build lasting relationships with its customers.
Nordstrom has been treading water for the past six months, recording a small return of 1.3% while holding steady at $24.13. The stock also fell short of the S&P 500’s 6.6% gain during that period.
Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating for Nordstrom, setting a $24 price target. While showing strong momentum, Nordstrom faces potential gross margin pressure from competitive strategies.
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Nordstrom, Inc. (NYSEJWN) shares are trading lower. The company on Monday announced that the Nordstrom Family and Liverpool will acquire all outstanding common shares of Nordstrom.
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Investors are keeping a close eye on NORDSTROM INC (NYSEJWN) as it boasts an impressive technical rating of 8 out of 10, signaling a possible breakout.
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The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Nordstrom (NYSEJWN) and the rest of the general merchandise retail stocks fared in Q3.
Shares of luxury department store chain Nordstrom (NYSEJWN)
fell 11.2% in the morning session after the company reported third-quarter earnings and provided cautious commentary ahead of the holiday season after observing a decline in sales trends towards the end of October. Elevated inventory levels were an issue, particularly in seasonal categories like boots, sweaters, and outerwear, where demand lagged in certain regions.
Luxury department store chain Nordstrom (NYSEJWN) reported Q3 CY2024 results beating Wall Street’s revenue expectations, with sales up 4.3% year on year to $3.46 billion. Its non-GAAP profit of $0.33 per share was 50.2% above analysts’ consensus estimates.
You can tell you’re in a for-real bull market when there is virtually no economic data released during a trading session and markets gain a percentage point anyway.
