Why Nordstrom Stock Was Sliding Today
Shares of Nordstrom (NYSE: JWN) were falling today after reports emerged that rival Neiman Marcus was preparing to file for bankruptcy. Privately held Neiman Marcus is a high-end department store chain like Nordstrom, so investors seemed to think the news spelled trouble for the Seattle-based operator.
As of 3:08 p.m. EDT on Monday, Nordstrom stock was down 7.2%.
Image source: Nordstrom.
Source Fool.com