JWN - Here's Why You Should Retain Nordstrom in Your Portfolio | Benzinga
Nordstrom, Inc. (NYSE: JWN) has been making efforts to drive efficiency in its business and enrich the customer experience. The company is making improvements in the Nordstrom Rack banner, driven by an increase in its strategic brand penetration. It is also redefining its flagship brand with a style-driven and top-quality assortment to give it a trendy look.
This Zacks Rank #3 (Hold) company's shares have gained 54.3%, outperforming the industry's 25.9% growth. Its VGM Score of A further speaks volumes.
What's More?
Nordstrom's Rack banner also remains on track to increase productivity throughout its network, reduce transportation costs and delivery times, and enhance services via faster delivery. The company continues to focus on introducing more premium brands at Rack, better assortment and increased brand awareness.
During the fourth quarter of fiscal 2023, the company witnessed impressive sales growth as Rack comparable-store sales rose in high single digits. Also, the Rack digital business improved in traffic and conversion. During fiscal 2023, it introduced 19 stores and intends to open 22 outlets in fiscal ...