3 weak Q's in a row....The Mega bull analyst on this one won't change their colors...but this Holiday season as of this point has JWN struggling again...everyone seems to be blind to the fact that The Rack is cannibalizing sales at flagship stores. The company will never admit it but if you look at regional sales where Racks are you can clearly see sales numbers at flagship stores coming in weaker Q over Q. Also- their internet sales the bulk of purchases are on items heavily discounted. This Q again is shaping up to be a disappointment, their margins are coming in to move product. Inventory controls are not their saving grace just look at the prior three Q's.
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.