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Nordstrom Inc JWN

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Stock XNYS Rating as of
$21.85 +0.04 (0.18%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Nordstrom Is Making Sound Investments but Lacks a Competitive Advantage

David Swartz

Nordstrom has a loyal customer base built on differentiated fashion products, quality brands, and first-rate service. While we used to think that these strengths provided a competitive advantage based on a brand intangible asset, we no longer believe that it does. Realistically, Nordstrom’s recovery from the pandemic has been rocky, and the US apparel retail market has only become more competitive.

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Price vs Fair Value

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JWN is trading at a 688% premium.
Price
$21.81
Fair Value
$19.60
Uncertainty
Very High
1-Star Price
$21.57
5-Star Price
$55.79
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Nordstrom's digital sales were about $5.2 billion in 2023, making it one of the largest e-commerce firms in the United States.

Bears

Large amounts of apparel sales have shifted to outlets, e-commerce, and specialty stores. Annual US department store sales have dropped by more than half over the past 15 years.

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Trading Information

Previous Close Price
$21.81
Day Range
$21.68–21.85
52-Week Range
$12.89–23.53
Bid/Ask
$21.73 / $21.78
Market Cap
$3.57 Bil
Volume/Avg
2,647 / 3.3 Mil

Key Statistics

Price/Earnings (Normalized)
15.81
Price/Sales
0.24
Dividend Yield (Trailing)
3.48%
Dividend Yield (Forward)
3.48%
Total Yield
3.51%

Company Profile

Nordstrom is a fashion retailer that operates about 93 department stores and more than 260 off-price Nordstrom Rack stores. The company also operates both full- and off-price e-commerce sites, two clearance stores, and seven Local locations. Nordstrom’s largest merchandise categories are women’s apparel (27% of 2023 sales), shoes (26% of 2023 sales), men’s apparel (15% of 2023 sales), and beauty (13% of 2023 sales). Nordstrom, which traces its history to a shoe store opened in Seattle in 1901, continues to be partially owned and managed by members of the eponymous family.
Sector
Consumer Cyclical
Industry
Department Stores
Stock Style Box
Small Value
Total Number of Employees
54,000
Website
https://www.Nordstrom.com

Competitors

Valuation

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Metric
JWN
ROST
TJX
Price/Earnings (Normalized)
 15.8125.3627.35
Price/Book Value
 4.2610.1916.64
Price/Sales
 0.242.442.32
Price/Cash Flow
 3.4019.7922.00
Price/Earnings
JWN
ROST
TJX

Financial Strength

Metric
JWN
ROST
TJX
Quick Ratio
 0.250.990.56
Current Ratio
 1.031.541.23
Interest Coverage
 3.6033.9678.50
Quick Ratio
JWN
ROST
TJX

Profitability

Metric
JWN
ROST
TJX
Return on Assets (Normalized)
 3.71%14.91%16.36%
Return on Equity (Normalized)
 44.39%45.48%69.55%
Return on Invested Capital (Normalized)
 7.80%18.94%23.95%
Return on Assets
JWN
ROST
TJX
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