Nordstrom shares have taken a dive this week after the company reported second-quarter earnings and sales that remain below pre-pandemic levels.
Telsey Advisory Group analyst Dana Teslsey said Nordstrom will have to do better to justify its valuation, which is higher than its peer group and its own historical levels. “Looking ahead, JWN can benefit from its exposure to the off-price channel, a profitable digital presence that continues to grow, and a pruned portfolio of full-line stores that can provide an alternative retail experience and accelerated operational efficiencies,” Telsey wrote.
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