Earnings Preview: Did Nordstrom and J.C. Penney Return to Comp Sales Growth in Q2?
Three months ago, department store stocks got crushed after a series of subpar earnings reports. Comparable-store sales declined at every major department store company in the first quarter of fiscal 2017. In light of this sales slump, investors didn't care that several department store operators posted solid bottom-line results.
Nordstrom (NYSE: JWN) and J.C. Penney (NYSE: JCP) arguably have the most riding on their ability to get comp sales rising again. Nordstrom has made huge growth investments in recent years, and it needs comp sales growth to make those investments pay off. Meanwhile, J.C. Penney needs comp sales growth to return to sustainable profitability. Let's take a look at these two retailers' efforts to bolster their comp sales trends.
In recent years, Nordstrom's sales trends have been better than those of other department store companies, largely due to its strong e-commerce business and its successful Nordstrom Rack off-price chain.
Source: Fool.com
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