Investors Don't Trust Nordstrom's Big Turnaround Plan

At an investor event on Thursday, Nordstrom (NYSE: JWN) revealed a plan to fully reverse its 2020 sales decline and emerge from the COVID-19 pandemic bigger and more profitable than ever. Clearly, investors weren't convinced.

While Nordstrom's targets imply a rapid earnings recovery over the next two to three years and steady growth thereafter, Nordstrom stock plunged 7% on the day it revealed its turnaround plan. Let's take a look at Nordstrom's updated strategy and whether the recent pullback in the stock has created a buying opportunity.

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Source Fool.com