CNBC Television published this video item, entitled “Nordstrom shares fall after earnings report” – below is their description.
Erik Nordstrom, the CEO of Nordstrom, joins Closing Bell following a less than stellar earnings report. He explains that some investors have really high expectations that can be tough to beat. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
Shares of the retailer dropped more than 16% despite Nordstrom beating expectations on the top and bottom lines for the second quarter. The company issued its quarterly results late Tuesday. JPMorgan downgraded the stock to underweight from neutral. The investment firm said in a note to clients that Nordstrom appeared to be underperforming even though the environment may be “as good as it gets,” creating risk to the downside for the stock.
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