TGT

Target Corporation

150.42
USD
2.46%
150.42
USD
2.46%
138.58 268.98
52 weeks
52 weeks

Mkt Cap 73.41B

Shares Out 488.04M

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Why Nordstrom Stock Was Up This Week

What happened Week to date, shares of Nordstrom were up 19.8% as of 11:29 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence. Department stores had a good week, as noted by strong results from Nordstrom (NYSE: JWN) and Macy's. The former reported stellar sales growth of 19% year over year. So what After the last two weeks of earnings reports from top retailers, the wheat has separated from the chaff. In the prior week, Walmart and Target got hammered over weak earnings results. This week, however, results from Nordstrom showed that there is spending velocity happening in the economy, but only in certain categories, including clothing for the return to the office and going out with friends. "We're pleased with the momentum we're seeing in the business and excited about our plans for the upcoming Anniversary Sale," Chief Brand Officer Pete Nordstrom said. Near-term sales visibility looks healthy, as management reported that customers are shopping for "long anticipated in-person occasions, such as social events, travel, and return to office." Now what The company's off-price channel Nordstrom Rack saw sales increase by 10% year over year. Management sees opportunity to further drive growth here as they make more brands available from the full-price Nordstrom store. Management expects full-year revenue to grow 6% to 8% year over year, with adjusted operating margin of approximately 5.6% to 6%. Analysts currently expect sales to increase in line with management's forecast, with adjusted earnings per share improving to $6.14 for the year, up from $5.61 last year. 10 stocks we like better than Nordstrom When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Nordstrom wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of April 27, 2022 John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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