Nordstrom downgraded on concerns about off-price Rack chain
Nordstrom Inc. was downgraded to market perform from outperform at Cowen on a number of concerns, among them same-store sales at the off-price Rack chain that lag behind other off-price retailers. Nordstrom stock is down 1% in Monday premarket trading. Competing off-price names include TJX Cos.' T.J. Maxx and Burlington Stores Inc. . Analysts are also concerned about same-store sales at the full-line Nordstrom stores and the potential need to shutter some locations. Some worries aren't specific to Nordstrom. Читать дальше...