Why Nordstrom Was Up Double Digits Today
Shares of Nordstrom (NYSE: JWN) were up big on Wednesday, rocketing 12.8% higher as of 12:20 p.m. ET.
The reason is easy to point out -- last night, Nordstrom reported first-quarter earnings that handily beat analyst expectations. Management also raised the low end of its guidance range for the year, which itself was also higher than analyst estimates.
The beat came as somewhat of a surprise, as retail earnings have generally disappointed this month; however, Nordstrom has some attributes that appear to have insulated it from the worst effects of inflation and the reopening of the economy.
Source Fool.com
