The Nordstrom stock (JWN) Jumped 37% today after the company reported positive earnings. Nordstrom’s net sales increased by 23% year-to-year to reach $4.5 billion in the last Q4 that ended on January 29, 2022.
Nordstrom’s revenue seems to have completely recovered from the Covid-19 pandemic-induced downturn. And as a result, the retailer could resume paying dividends this year starting from the coming quarters.
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To help stock investors interested in investing in Nordstrom stock, Invezz has created a brief article on what it is and where to buy it.
To find out more, please continue reading.
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What is Nordstrom stock?
Nordstrom stock is the stock of Nordstrom, Inc. shares and it trades on the New York Stock Exchange using the ticker NYSE: JWN.
Nordstrom, Inc. is an American luxury store chain. It was founded in 1901 by Carl F. Wallin and John W. Nordstrom.
Nordstrom started as a shoe store and evolved into a full-line retailer. It has various departments including departments for footwear, clothing, handbags, accessories, jewelry, fragrances, and cosmetics.
Should I buy JWN stock today?
If you want to invest in the stock of a giant luxury retailer, then Nordstrom stock (JWN) could be a good choice.
Nevertheless, the stock proved to be very susceptible to pandemics following its crush during the Covid-19 pandemic, and if another wave of Covid-19 was to strike, the stock could lose the current gains.
JWN stock price prediction
If the market sentiments remain as they are, analysts expect the JWN stock price to get back above $30 before the end arch.
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