Why Nordstrom Is Bucking the Trend in Department Stores
It's a tough time to be a department store chain.
The retail format that thrived throughout the 20th century is struggling to adapt to the 21st. Department store sales are down 3.9%, according to the Census Bureau, continuing a years-long decline. It's not surprising, really. Cavernous, multi-floor stores that sell everything from clothes to home goods to jewelry to cosmetics just aren't needed in the way they used to be. Americans can buy most of that stuff online or visit a specialty store when they need something specific.
Department store stocks have gotten hammered this year along with much of the retail sector, but one chain is clearly rising above the rest -- Nordstrom Inc. (NYSE: JWN). While that stock is still down 7% this year, the company has made a number of strategic moves that give it a brighter future than peers like Macy's (NYSE: M), J.C. Penney, or Kohl's.
Source: Fool.com
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