Nordstrom's shares fall by 7%

Nordstrom

There is a possibility that Nordstrom investors across the globe are reconsidering their investment decision in the company after its quarterly report went public.

Nordstrom’s quarterly report announced its loss of $166 million, causing it to record a net profit of $3.01 billion which is more than the $2.90 billion that financial analysts had predicted. Despite this, the company’s shares fell by 7%.

Nordstrom’s management explained that the high cost of labor, shipping, and issues within the apparel industry have put a strain on the company in the past year.

The company hinted at its expansion within its women, children, and home shopping categories, ensuring that there is more of a variety for its customers to pick from.

However, Nordstrom’s market capitalization of $5.8 million has stayed intact and financial analysts are predicting that the company’s shares will retrace and it will do more in the next quarter in terms of earnings.

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Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.

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Business Stance

Business Stance

Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.

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