Why Nordstrom Stock Fell Today
Shares of Nordstrom (NYSE: JWN) were sliding for the second day in a row as fear about its third-quarter earnings report, due out after hours on Thursday, continues to drive the stock lower. Department stores that have reported quarterly earnings thus far, especially Kohl's, have revealed headwinds in the sector. After a three-month run-up in the stock that drove gains of more than 50%, Nordstrom bulls are now bailing, afraid that Thursday's report will be mostly bad news. The stock finished down 4.4% today.
Nordstrom's descent started yesterday as the stock fell 6.7% after Kohl's issued a disappointing quarterly report, with earnings per share down 24%, and the company slashing its full-year EPS guidance from a ranger of $5.15-$5.45 to a new range of $4.75-$4.95.
Image source: Nordstrom.
Source Fool.com
