Why Nordstrom Stock Dropped Today

Shares of Nordstrom (JWN -16.08%) fell 16.1% on Wednesday after the department-store chain announced better-than-expected quarterly results but followed with underwhelming forward guidance.Nordstrom's solid end to fiscal 2023For its fiscal fourth quarter ended Feb. 3, 2024, Nordstrom's net sales grew 2.2% year over year to $4.293 billion, translating to adjusted (non-GAAP) net income of $0.96 per share. Most analysts were only modeling earnings of $0.89 per share on revenue closer to $4.38 billion.Managemen ...