Why Nordstrom Stock Surged Today
Shares of Nordstrom (NYSE: JWN) were gaining today after the well-to-do department-store chain posted an earnings report that, while troubling, was still better than the market had anticipated. Considering how far Nordstrom shares had fallen this year, investors seemed to take the opportunity to bid up shares of the turnaround play as its bottom-line result was significantly better than expected.
The stock was up 15% as of 2:43 p.m. EDT.
A mock-up of Nordstrom's upcoming flagship store in NYC. Image source: Nordstrom.
Source Fool.com
