Nordstrom Downgraded: Analyst Highlights Consumer Pressure And Potential M&A Impact

KeyBanc Capital Markets analyst Ashley Owens downgraded Nordstrom (NYSE:JWN) from Overweight to Sector Weight.

The analyst highlights several encouraging key priorities, including improvements in the Nordstrom banner, identification of operational efficiencies, and continued in Rack growth.

Sell-through during the second quarter’s anniversary sale met expectations, while regular-price sales and increased customer visits reflect solid brand positioning.

With over 50% of revenue and approximately 60% of profit still ahead, the analyst notes that factors such as a more promotional holiday season and consumer pressures will influence performance.

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Full story available on Benzinga.com