Nordstrom Q3 Sales Grow, But Analysts Remain Cautious On Stock Amid Slowing Sales And Elevated Inventory

Nordstrom, Inc. JWN shares are trading lower on Wednesday.For the third quarter, the company’s net sales increased 4.6% compared to the same period in fiscal 2023, total company comparable sales increased 4.0%, and gross merchandise value increased 5.3%. JP Morgan analyst Matthew R. Boss reiterated the Underweight rating on the stock, raising the price forecast to $21 from$20.The analyst notes that despite favorable conditions for Nordstorm’s core customer base, including high personal savings rates, low d ...