Nordstrom Brands Don't Subscribe To 'Department Stores Are Dead' Mantra: Analyst Explains Why
Portfolio Pulse from Nabaparna Bhattacharya
Nordstrom, Inc. (NYSE:JWN) reported first-quarter earnings with adjusted losses of 24 cents per share, missing analysts' expectations of 7 cents per share. Analysts from BMO Capital Markets, Telsey Advisory Group, JPMorgan, and BofA Securities provided mixed reactions, with ratings ranging from Market Perform to Underweight and price targets between $17 and $20. Despite topline growth, margin challenges and structural issues in the department store sector remain concerns.
May 31, 2024 | 6:23 pm
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Nordstrom reported a larger-than-expected loss in Q1, with adjusted losses of 24 cents per share. Analysts provided mixed ratings and price targets, highlighting margin challenges and structural issues in the department store sector.
Nordstrom's larger-than-expected loss and mixed analyst ratings suggest short-term downward pressure on the stock. Margin challenges and structural issues in the department store sector add to the negative outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100