JWN Stock Forecast 2022, 2023, 2024, 2025, 2030
Nordstrom’s JWN Stock Price plummeted on Wednesday after the chain store company’s third-quarter statistics surprised traders.
JWN Stock Price dropped 29 percent as of 3:45 p.m. ET.
Nordstrom’s net sales increased 18% year over year to $3.5 billion, as more customers came to the firm’s stores. Despite this, Nordstrom’s sales were still marginally lower than they were before the epidemic.
Nordstrom Rack’s sales, which have been down 8% year on year in the third quarter of 2019, were particularly concerning. Stock shortages and other supply chain issues are causing problems for the off-price department store company.
“We’re taking steps to enhance performance at Nordstrom Rack, including as improving stock levels, better matching pricing points, and enhancing brand recognition,” stated CEO Erik Nordstrom in a press statement.
Furthermore, growing labor and fulfillment expenses are reducing Nordstrom’s earnings. Its selling, general, and administrative expenditures increased by 2.3 percentage points to 34 percent of sales.
Nordstrom’s net earnings climbed by 21% to $64 million, or $0.39 per share. This was much below than Wall Street’s JWN Stock Forecast of $0.56 profits per share.
As a result of the shortfall, J.P. Morgan economist Matthew Boss reduced his JWN Stock Forecast for Nordstrom Shares from $27 to $23. Considering favorable retail trends and the overall power of Nordstrom’s wealthy client base, Boss expects the business to continue to underperform its competitors. As a result, he maintained his advice to traders to underweight JWN Stock in their portfolios.
According to today’s big drop in JWN Stock Price, many traders agreed with Boss and opted to sell their JWN Shares.
What Does Nordstrom Inc Do?
Nordstrom Inc is a fashion store that sells clothing, shoes, beauty products, accessories, and household products to women, men, young people, and children. It sells brand name and private label products through a variety of channels, including Nordstrom branded shops and online at Nordstrom.com; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com, and HauteLook; clearance shops under the Last Chance brand; Trunk Club clubhouses; and Jeffrey boutiques. It owned 358 shops in the United States and Canada as of March 2, 2021, with 100 Nordstrom stores, 249 Nordstrom Rack shops, 2 clearance shops, and 7 Nordstrom Local service outlets. The corporation was established in 1901 and is based in Seattle, Washington.
JWN Stock Price Today
Currently, JWN Stock Price is 22.40 USD. The opening JWN Stock Price is 21.83 USD, with a high 22.63 USD and a low 20.90 USD.
14-Days Historical JWN Stock Price Data
|Date||Opening JWN Stock Price||Closing JWN Stock Price||Minimum JWN Stock Price||Maximum JWN Stock Price|
|2021-11-24||Open: 23.575||Close: 22.66||Low: 22.385||High: 23.575|
|2021-11-23||Open: 31.49||Close: 31.93||Low: 30.84||High: 32.35|
|2021-11-22||Open: 33.005||Close: 32.32||Low: 31.95||High: 33.25|
|2021-11-19||Open: 34.14||Close: 32.74||Low: 32.715||High: 34.14|
|2021-11-18||Open: 34.57||Close: 34.99||Low: 33.98||High: 35.61|
|2021-11-17||Open: 33.81||Close: 33.19||Low: 32.62||High: 33.81|
|2021-11-16||Open: 32.87||Close: 33.49||Low: 32.87||High: 33.52|
|2021-11-15||Open: 34.03||Close: 33.22||Low: 33.215||High: 34.03|
|2021-11-12||Open: 34.33||Close: 33.59||Low: 33.37||High: 34.42|
|2021-11-11||Open: 34.65||Close: 34.38||Low: 34.38||High: 35.185|
|2021-11-10||Open: 34.43||Close: 33.72||Low: 33.58||High: 34.63|
|2021-11-09||Open: 34.23||Close: 34.43||Low: 33.85||High: 34.45|
|2021-11-08||Open: 32.92||Close: 33.31||Low: 32.9||High: 33.31|
|2021-11-05||Open: 32.97||Close: 32.77||Low: 32.1||High: 32.97|
Nordstrom Inc News
Nordstrom announced results that fell short of investors’ JWN Stock Forecasts on Tuesday, as labor expenses ate into profitability and sales, and its Nordstrom Rack segment failed to regain pre-pandemic levels.
In extended trading, the JWN Stock Price dropped more than 23% as a result of the news.
Net profit increased from $53 million, or 34 cents per share, a year ago to $64 million, or 39 cents per share. As per a Refinitiv survey, people predicted per-share revenues of 56 cents.
Sales, which includes credit card purchases, increased to $3.64 billion from $3.09 billion a year ago, above estimates of $3.55 billion. However, this is a little decrease from the $3.67 billion Nordstrom announced in the third quarter of 2019.
Revenue at Nordstrom’s eponymous chain store brand increased 11 percent year on year and 3 percent over the previous two years. Customers visited its shops in greater numbers, and they spent more money each transaction. Home products, athletic apparel, designer labels, and cosmetics were mentioned as areas of strength by Nordstrom.
Sales at Nordstrom Rack, an off-price branch that rivals with TJ Maxx and Macy’s Backstage, were up 35% from 2020 but down 8% from 2019.
Rack’s efficiency is increased by investing in growing brand recognition, better controlling stock levels, and adjusting prices to better match with buyers’ expectations, according to the firm.
Digital sales declined 12% year over year but increased 20% over a two-year period, accounting for 40% of total sales. Nordstrom stated that last year’s Anniversary Sale, which is held largely online but also in shops, was shifted fully into the third quarter, whereas this year it just occurred for one week of the quarter.
Nordstrom reported a 13 percent increase in stock levels compared to the corresponding time last year, owing to the department store owner bringing ahead some purchases of products to try to alleviate ongoing supply chain bottlenecks.
It still forecasts yearly revenue, comprising credit card transactions, to increase by more than 35% over last year. As per JWN Stock Forecast 2022, 2023, 2024, 2025, 2030 data, experts were predicting a 36% gain.
As of Tuesday’s market close, Nordstrom’s JWN Stock Price was up less than 1% year to date. It has a market capitalization of around $5.1 billion.
JWN Stock Forecast
JWN Stock Forecast in 14 days is 29.136 USD highest and 19.995 USD lowest, based on the JWN Stock Forecast 2022, 2023, 2024, 2025, 2030 data.
- JWN Stock Forecast for the next days
|Date||JWN Stock Price||Min JWN Stock Price||Max JWN Stock Price|
|2021-11-26||Price: 24.945||Min: 21.675||Max: 28.113|
|2021-11-29||Price: 25.032||Min: 21.879||Max: 28.047|
|2021-11-30||Price: 25.173||Min: 22.031||Max: 28.582|
|2021-12-01||Price: 23.138||Min: 19.995||Max: 26.451|
|2021-12-02||Price: 25.893||Min: 22.718||Max: 29.136|
|2021-12-03||Price: 25.364||Min: 22.187||Max: 28.537|
|2021-12-06||Price: 25.451||Min: 22.130||Max: 28.531|
|2021-12-07||Price: 25.591||Min: 22.490||Max: 28.727|
|2021-12-08||Price: 23.556||Min: 20.445||Max: 26.940|