Why Nordstrom (JWN) Stock Is Falling
Portfolio Pulse from Henry Khederian
Nordstrom Inc's shares fell by 7.55% after Macy's reported disappointing Q2 results. Macy's brick-and-mortar sales decreased by 8%, and digital sales dropped by 10% year over year. The poor performance of Macy's, a company in the same retail sector as Nordstrom, has led to concerns about the overall health of the retail industry.
August 22, 2023 | 2:04 pm
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Nordstrom's stock price fell due to disappointing Q2 results from Macy's, a company in the same retail sector. This suggests potential challenges in the retail industry that could affect Nordstrom.
Nordstrom's stock price fell after Macy's reported disappointing Q2 results. As both companies operate in the same retail sector, poor performance from one can indicate potential challenges for the other. This has led to concerns about the overall health of the retail industry, which has negatively impacted Nordstrom's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100