Tajuk : Nordstrom is ‘best-of-breed’
link : Nordstrom is ‘best-of-breed’
Nordstrom is ‘best-of-breed’
Reuters/Shannon Stapleton
Uno, a 15-inch beagle, poses with handler Aaron Wilkerson after winning Best in Show at the 132nd Westminster Kennel Club Dog Show at Madison Square Garden in New York.
Nordstrom remains a strong player in the retail world despite the ongoing retail apocalypse.
And that has equity analysts at both Credit Suisse and UBS bullish on the stock.
On Thursday, the retailer announced quarterly results that beat on both the top and bottom lines. And while same-store sales were light, a group of analysts at Credit Suisse seemed unfazed, saying Nordstrom is “best-of-breed” in the department store space.
“Nordstrom demonstrated relative outperformance as strength in its eCommerce business (24% of sales and up double-digits) and Nordstrom Rack (30% of sales with comps up 2.3%), offset continued weakness in full line stores (53% of sales, comps down 2.8%),” the analysts, led by Christian Buss wrote.
UBS is singing the same tune. In a note out to clients on Friday, a group of analysts led by Michael Binetti praised the company for strong performance amid its industry’s troubles. The bank said a sell-off in the stock on Thursday was an “over reaction” by the market.
“We think JWN’s underlying fundamental story remains intact after 1Q—particularly given the significant SSS misses from [Kohls] & [Macy’s] in the qtr—and believe Thursday’s stock reaction to read-throughs from the d-stores group was overblown given the relative strength of JWN’s qtr,” the analysts wrote.
UBS noted Nordstrom’s “slightly worse-than-expected” same-store sales, but pointed out some bright spots for the company including solid inventory control.
Both Credit Suisse and UBS are bullish on Nordstrom. Credit Suisse has a $52 price target for the stock, and UBS thinks the stock will go to $51. Both targets are above the firm’s current stock price of $41.92.
MI
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
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Reuters/Shannon Stapleton
Uno, a 15-inch beagle, poses with handler Aaron Wilkerson after winning Best in Show at the 132nd Westminster Kennel Club Dog Show at Madison Square Garden in New York.
Nordstrom remains a strong player in the retail world despite the ongoing retail apocalypse.
And that has equity analysts at both Credit Suisse and UBS bullish on the stock.
On Thursday, the retailer announced quarterly results that beat on both the top and bottom lines. And while same-store sales were light, a group of analysts at Credit Suisse seemed unfazed, saying Nordstrom is “best-of-breed” in the department store space.
“Nordstrom demonstrated relative outperformance as strength in its eCommerce business (24% of sales and up double-digits) and Nordstrom Rack (30% of sales with comps up 2.3%), offset continued weakness in full line stores (53% of sales, comps down 2.8%),” the analysts, led by Christian Buss wrote.
UBS is singing the same tune. In a note out to clients on Friday, a group of analysts led by Michael Binetti praised the company for strong performance amid its industry’s troubles. The bank said a sell-off in the stock on Thursday was an “over reaction” by the market.
“We think JWN’s underlying fundamental story remains intact after 1Q—particularly given the significant SSS misses from [Kohls] & [Macy’s] in the qtr—and believe Thursday’s stock reaction to read-throughs from the d-stores group was overblown given the relative strength of JWN’s qtr,” the analysts wrote.
UBS noted Nordstrom’s “slightly worse-than-expected” same-store sales, but pointed out some bright spots for the company including solid inventory control.
Both Credit Suisse and UBS are bullish on Nordstrom. Credit Suisse has a $52 price target for the stock, and UBS thinks the stock will go to $51. Both targets are above the firm’s current stock price of $41.92.
MI
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2ptDjtF
(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!
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