What's Going On With Nordstrom's Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Nordstrom, Inc. (NYSE:JWN) shares are trading higher after the company posted mixed first-quarter financial results. Despite missing earnings estimates, the company beat sales expectations and saw positive sales growth across its banners. Nordstrom reaffirmed its fiscal year 2024 outlook, and multiple analysts updated their coverage on the stock.
May 31, 2024 | 3:46 pm
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Nordstrom reported mixed Q1 results with a loss per share of 24 cents, missing estimates, but sales of $3.22 billion beat expectations. The company saw positive sales growth and reaffirmed its FY 2024 outlook. Analysts updated their ratings, with price targets ranging from $18 to $19.
Despite missing earnings estimates, Nordstrom's positive sales growth and reaffirmed FY 2024 outlook are encouraging. The stock is trading higher, and analysts have updated their ratings with increased price targets, indicating a positive short-term impact.
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