Nordstrom Stock Plunges After Earnings: 4 Analysts Break Down Q2 Print, Guidance Cut


Nordstrom, Inc. (JWN) Tuesday reported second-quarter earnings that were slightly better than the consensus estimate, but lowered its full-year forecast, warning of an inventory glut due to slowing demand.

Analyst Dana Telsey maintained a Market Perform rating and reduced the price target from $28 to $25. Nordstrom’s quarterly earnings reflect stronger revenue growth being offset by “softer-than-expected gross margin and SG&A leverage,” Telsey said in a note. “Despite solid performance in 2Q, JWN reduced its FY22 guidance to reflect indications of slowing demand,” she added.

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