Nordstrom Higher After Surprise 3rd-Quarter Profit

The Street

Nordstrom (JWN) shares were higher after the upscale retailer reported a surprise fiscal-third-quarter profit.

Analyst Dana Telsey said Nordstrom was positioned to gain market share, building off a strong balance sheet. In particular, the analyst said, the company’s off-price channel has room to grow, Nordstrom’s digital presence is profitable and growing, and it has streamlined its store network and its operations.

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