Traffic is well off the norm for JWN. Three very uninspiring Q's in a row and a very bullish but often wrong group on mega bull analyst. Back to the mid 50's. 59.48 near term. 56 mid Dec. Enjoy and cash in.
I have a small position in JWN and am waiting for a pullback to buy more. I believe strongly in this company but the stock is near an all time high. The Nordstrom experience is far different from the Macy's experience when shopping. I will never shop at Macy's although I occasionally hold positions in M. Just waiting for a dip in JWN. 2% div yield helps the cause a bit. I have been told that Nordstrom Rack accounts for a high percentage of JWN's overall profit--not sure if that is true though.
Not only is in store traffic off, but their latest "match anyone" and "match everyone" practice is going to prove highly negative when it comes to profits. Nord has basically decided to operate at their high overhead cost structure but sell at everyone's low cost, discount, friends and family price.
The stock certainly is not behaving well. I would have to agree in regards to Nordstrom loosing its competitive edge for all the reasons I have outlined before. Poring money into IT at the expense of human capital.