Nordstrom Stock Drops After Full-Year Sales Outlook Disappoints—Key Level to Watch
Nordstrom(JWN) Investopedia·2024-03-06 20:25
Key TakeawaysNordstrom shares fell sharply in premarket trading Wednesday after the upscale retailer issued a disappointing fiscal 2024 outlook.Sales at the mall anchor’s namesake banner stores slipped 3% from last year's equivalent quarter but grew nearly 15% at its Nordstrom Rack off-price brand, indicating price-conscious customers were prioritizing value when shopping over the holiday period.The Nordstrom share price may find support between the 50- and 200-day moving averages from $17.52 to $19.09. Sha ...