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Nordstrom Rack: A Huge Opportunity for Nordstrom Investors

TheMotleyFool

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Nordstrom Rack: A Huge Opportunity for Nordstrom Investors

Many retail stocks have been crushed by the COVID-19 pandemic, with department stores and other apparel-focused retailers being particularly hard hit. Nordstrom (NYSE: JWN) has been no exception. Shares of the retail icon have plummeted about 58% year to date.

Off-price retail stocks also plunged in the early days of the pandemic. However, they bounced back quickly, as investors concluded that they would gain market share in the aftermath of the pandemic. For example, shares of No. 2 U.S. off-price retailer Ross Stores (NASDAQ: ROST) are down just 21% year to date.