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Why Nordstrom's Shares Are Up Today

TheMotleyFool

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Shares of upscale department-store chain Nordstrom (NYSE: JWN) were rising on Thursday afternoon after an influential analyst team said that the coronavirus pandemic might not have as large an impact on the company as feared.

As of 2:00 p.m. EDT, Nordstrom's shares were up about 8% from Wednesday's closing price.

In a new note on Thursday morning, a team of Cowen analysts led by Oliver Chen said that revenue for retailers including Nordstrom could fall as much as 50% in March and 100% in April. But they see a good chance that things will recover from there, with the full-year impact being around 12% of 2019 revenue and 50% of earnings per share.

Source Fool.com

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