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Nordstrom Faces Price Target Cuts By Analysts Following Weak Holiday Sales

Nordstrom Inc (NYSE: JWN) reported a 3.5% drop in net sales for the nine-week holiday period ended December 31, 2022 and lowered its annual EPS guidance. Nordstrom cut EPS guidance to a new range of $1.50-$1.70 from $2.30-$2.60. Nordstrom shares gained 0.5% to trade at $17.53 on Friday.

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Why Nordstrom Stock Is Falling Today

Nordstrom Inc (NYSE: JWN) shares are trading lower by 5.62% to $16.47 Friday morning after the company reported a net sales decrease of 3.5% for the nine-week holiday period ended December 31, 2022. The company also cut its FY22 EPS guidance from in the range of $2.30-$2.60 to a new range of $1.50-$1.70.

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