2024-03-07 17:06:33 ET
Summary
- Department store operator, Nordstrom, is trading lower following the release of its Q4 results.
- While results topped expectations, forward guidance was more muted.
- Momentum continued at Nordstrom’s off-price brand, Rack. The continued growth in Rack also figures prominently into the company’s medium to long-term outlook.
- In addition to Rack, Nordstrom is leaning on its digital channel to support its storefronts.
- While these initiatives serve as positive catalysts, I maintain a neutral view on shares due to the uncertainty of future success in these initiatives.
Department store operator, Nordstrom ( JWN ), remains under pressure following a disappointing earnings release on Wednesday. The stock is now down about 5% on the month, following losses of about 14.5% in the last five days....
Read the full article on Seeking Alpha
For further details see:
Nordstrom Q4 Earnings: Neutral Outlook Despite Positive Momentum In Rack