by Miss Minnie Boyer
Published 2 years ago
Updated 2 years ago
Shares of Nordstrom (NYSE: JWN)were falling today after reports emerged that rival Neiman Marcus was preparing to file for bankruptcy. Privately held Neiman Marcus is a high-end department store chain like Nordstrom, so investors seemed to think the news spelled trouble for the Seattle-based operator.
Nordstrom's (JWN) stock slid 29% on Wednesday, its biggest one-day decline on record. The plunge came after the clothing department store missed quarterly earnings expectations, challenged by low inventory and rising costs.Nov 24, 2021
The stock (ticker: JWN) has fallen after third-quarter earnings missed analysts expectations, and the company's Nordstrom Rack business showed pricing weakness.Jan 11, 2022
Why is Nordstrom struggling?
Nordstrom Rack, once a big growth driver for the Nordstrom business, has struggled to boost revenue in recent months. That's an issue management has attributed, in part, to difficulty securing merchandise due to supply chain snafus during the Covid pandemic.Apr 4, 2022
Is Nordstrom in trouble?
Nordstrom JWN, -6.21% shares fell to $22.26, their lowest close in almost exactly a year, since Nov. 20, 2020. Supply-chain challenges are adding to the company's problems, with low inventory levels in women's clothing and shoes at Nordstrom Rack, but there's more to it than that.Nov 24, 2021
Is Nordstrom stock a good buy?
Nordstrom stock is still a bargain. Shares recently traded at 10.8 times forward earnings, well below its five-year average of 17 times, according to FactSet data. Analysts expect the stock could hit $24, up 11% from recent trading levels.Feb 22, 2022
Is Nordstrom a luxury store?
Nordstrom, Inc.
(/ˈnɔːrdstrəm/) is an American luxury department store chain headquartered in Seattle, Washington and founded by John W. Nordstrom and Carl F. Wallin in 1901.
Is Nordstrom profitable?
Announcing its quarterly earning Tuesday, the company reported $200 million in profit during the fourth quarter, which ended Jan. 29. That allowed Nordstrom to finish the fiscal year with $178 million in profits — up from a $690 million loss the year before. Revenues were down from the 2019, but only slightly.Mar 1, 2022
Has Nordstrom gone downhill?
The glistening full-line stores that made Nordstrom's name and reputation have logged five straight quarters of year-over-year sales declines. The company's early success in navigating e-commerce now looks less certain.Feb 19, 2017
Is Nordstrom financially sound?
[+] Nordstrom Inc.JWN +4.8% today reported first quarter financial results, which reflected continued recovery and year-over-year improvement in sales and earnings compared to the same period in fiscal 2020.May 25, 2021
Why is Nordstrom stock going up?
Nordstrom shares are soaring after the department store chain offered up an upbeat outlook for the coming year, forecasting profits and single-digit revenue growth. Other retailers including Macy's, Kohl's and Target have similarly offered better-than-expected full-year forecasts in recent days.Mar 2, 2022
Did Nordstrom stock split?
Nordstrom stock has split 7 times.
Is Macy's stock a good buy?
Macy's is arguably a stronger business now than it was before the start of the pandemic. Management can be commended for decisions it made during the crisis. The market might agree with the previous statement -- Macy's stock is up 121% year to date.Dec 27, 2021
What time is Nordstrom earnings?
The Company's senior management will host a conference call to provide a business update and to discuss fourth quarter 2021 financial results and fiscal year 2022 outlook at 4:45 p.m. Eastern Standard Time today.
What happened
Shares of Nordstrom (NYSE: JWN) plunged 17.6% on Wednesday, following the release of the retailer's second-quarter financial report.
So what
Nordstrom's net sales doubled from the second quarter of 2020, when coronavirus-related store closures weighed heavily on its results. Revenue from Nordstrom's namesake brand surged 127%, while sales for its Nordstrom Rack brand increased 61%.
Now what
After reviewing its second-quarter financial metrics, J.P. Morgan analyst Matthew Boss lowered his rating on Nordstrom's shares from neutral to underweight and slashed his price forecast from $39 to $34.
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Investors' big question: Will anyone go shopping now?
John Rosevear is the senior auto specialist for Fool.com. John has been writing about the auto business and investing for over 20 years, and for The Motley Fool since 2007. Follow @john__rosevear
What happened
Shares of upscale retailer Nordstrom ( NYSE:JWN) were down sharply on Thursday morning, as growing concerns about the effects of the novel coronavirus pandemic on businesses drove a broad-based market sell-off.
So what
Investors and analysts are coming to grips with the likelihood that the response to the COVID-19 pandemic will involve so-called "social distancing" measures that will keep consumers out of public areas (like retail stores) for at least several weeks.
Now what
To the extent that there's good news, it's this: China is already starting to get back to normal. The worst of the pandemic could pass in several weeks, meaning that the impact on Nordstrom's revenue might not last more than a quarter or two.
