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Nordstrom Shares Tank, Still Maintain “Buy” Rating
While Nordstrom took a hard hit this week, with shares reportedly plummeting more than 10-percent, analysts still maintain a “buy” rating for the luxury retailer.
With measures like allowing online shoppers to return merchandise to Nordstrom or their discount-chain Nordstrom Rack stores, the company is taking a wide-angled approach at maintaining top-tiered customer service to promote sales. However, Nordstrom Rack, which has been funding a large amount of the company’s growth over the past few years, is also experiencing declining sales.
Despite the gloomy trading week, analysts believe that Nordstrom shares offer an “inexpensive entry point” boasting an optimistic outlook on the company’s growth in Canada and New York, off-price category, and unique merchandise.
Nordstrom is not alone in its challenges to maintain strong sales in an overwhelming e-commerce retail market. Join us at Connect Retail West to see what other companies, owners and developers are doing to fare with the changing retail sector.
