Is Nordstrom Stock a Buy After Q1 Earnings?
Nordstrom's (NYSE: JWN) recovery from the devastation caused by the coronavirus pandemic continues. The retailer recently reported earnings for the quarter that ended May 1, showing revenue increased by 44%. The company benefited as more than $300 billion in stimulus checks hit bank accounts in March and April. Furthermore, nearly 50% of Americans have received at least one dose of a vaccine, and that's bringing down the spread of COVID in the U.S. With a reduced risk of infection, a growing number of people are feeling comfortable visiting stores in person.
Still, investors were unimpressed, sending Nordstrom stock down nearly 10% following the report. So let's dive into the details of the earnings report and take a look at the company's long-term prospects to determine if you should buy Nordstrom stock right now.
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Source Fool.com
