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Nordstrom's Turnaround Is Real: Q3 Earnings Crush Estimates

TheMotleyFool

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Nordstrom's Turnaround Is Real: Q3 Earnings Crush Estimates

Among apparel-focused retailers, Nordstrom (NYSE: JWN) has been especially proactive about pivoting to e-commerce. Nevertheless, the COVID-19 pandemic crushed Nordstrom's results earlier this year due to the company's focus on selling dressy apparel for work and social events.

Despite reporting dreadful results earlier this year, Nordstrom stock has doubled this month as investors have grown hopeful about COVID-19 vaccine candidates being approved soon. On Tuesday, the iconic fashion retailer reported third-quarter results that were far better than expected, proving that it is already on the road back to health.