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Why Shares of Nordstrom Are Rising Today

TheMotleyFool

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Why Shares of Nordstrom Are Rising TodayPhoto, wide shot, wide-angle lens, Online marketplace, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/27d484d8-d1b1-4519-9797-b5dcaa68d4e2.png

Shares of upscale retailer Nordstrom (NYSE: JWN) were up sharply on Wednesday, after the company gave a blunt update on the state of its business in a regulatory filing. As of 11:45 a.m. EDT, Nordstrom's shares were up about 12% from Tuesday's closing price.

In a Form 8-K filing on Wednesday morning, Nordstrom said that its results for the quarter that will end on May 2 will be "adversely impacted in a significant manner" by events related to the COVID-19 outbreak in the U.S. and Canada.

Nordstrom's physical stores will remain closed indefinitely, the company said. Image source: Nordstrom.

Source Fool.com

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