3 Disappointments in Nordstrom's Q2 Numbers
Investors knew last quarter would be a tough one for most retailers. It was the first quarter fully affected by coronavirus lockdowns, and even where non-essential shopping is allowed again, consumers aren't exactly mobbing those stores.
Department store chain Nordstrom (NYSE: JWN), however, reported surprisingly disappointing second-quarter results even after factoring in the fallout from the COVID-19 contagion. The three most alarming red flags are the sheer scope of its sales decline, comparatively high spending, and still-high inventory levels. The company explained in its conference call that there was a reason it was holding all that merchandise, but it's a risky bet.
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Source Fool.com
