Why Nordstrom Shares Popped Over 5% for a Second Day of Gains
Shares of Nordstrom (NYSE: JWN), a fashion retailer operating roughly 373 stores in 40 states, jumped as much as 5.8% Tuesday morning, adding to Monday's gains, after the markets continued to absorb a couple of bullish notes.
On Monday, JPMorgan analyst Matthew Boss said that the 2019 holiday season looked to be strong for department stores, among other areas. "Our work points to a robust Holiday '19 overall led by continued consumer strength," Boss told investors, pointing out that unemployment is at a 50-year low and wage growth is about 4%.
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Source Fool.com
