Wendy Boyd
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Nordstrom Remains A Bright Spot In A Dismal Quarter For Retail

In retail, a sector that’s been hammered by store closings and bankruptcies, the second-quarter report from Nordstrom, Inc. JWN Thursday was a rare beat.

The luxury retailer is a bright spot in retail, KeyBanc Capital Markets analyst Edward Yruma said in a Thursday note. The research firm has an Overweight on Nordstrom and reiterated a $55 price target.

KeyBanc maintains that a management buyout at Nordstrom is “likely,” Yruma said. Source

A breakout is possible. Let's wait for a forming of an upside trend.