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Why Nordstrom Stock Crashed Today

·2 min read
Why Nordstrom Stock Crashed Today
In this article:
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Shares of Nordstrom (NYSE: JWN) plunged 17.6% on Wednesday, following the release of the retailer's second-quarter financial report. Revenue from Nordstrom's namesake brand surged 127%, while sales for its Nordstrom Rack brand increased 61%. "We capitalized on improving customer demand with focused execution, healthy inventory sell-through, and continued expense management to deliver strong quarterly results," CEO Erik Nordstrom said in a press release.