Nordstrom shares fell by nearly 6% Wednesday after the company reported disappointing first-quarter earnings numbers and issued guidance that fell short of Wall Street’s expectations.
Nordstrom As A Reopening Play: Telsey Advisory Group analyst Dana Telsey said the weak first quarter highlights the challenges Nordstrom faces in its turnaround efforts. “Overall, JWN’s first quarter results were a bit disappointing, in our view, despite what we saw as a favorable set-up given the better-than-expected results reported by many of its peers benefiting from easier prior year compares and an improving macro environment (increased vaccinations, return of warmer weather, accelerating tax refund distributions, and another round of government stimulus),” Telsey wrote.
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