Nordstrom Stock Struggling As Retailers Deal With Demand Decline
by MR Magazine Staff
Jun 21, 2016
Luxury retailer Nordstrom shares closed up by 0.61% to $37.71 on Monday, which is about half the value of their shares 12 months ago. “Only Sears, Conn’s and one other name has done worse than Nordstrom. Usually you think the luxury companies are immune,” CNBC’s “Power Lunch” co-anchor Brian Sullivan said. The decline in shares is occurring not only in department stores but also the luxury trade. “We knew it was coming because of Amazon. But now it’s here. It’s arrived,” said reporter Michelle Caruso-Cabrera. The company is sitting at five year lows at this point, reporter Melissa Lee added. Read more at The Street.
