Tuesday, May 29, 2007

Nordstrom Stock

Nordstrom (NYSE: JWN) is reaching its lower resistance point and it looks undervalued. Based on the Shareholders Meeting that took place on May 22nd, the overall outlook of Nordstrom suggests a bullish tone. Higher gas prices this summer may impact a substantial chunk of retail, however I think the loyal Nordstroms customer will continue their spending spree on upscale clothing. Although upscale boutiques in major metropolitain areas have been gaining momentum, Nordstrom has adapted by focusing more carefully on increashing inventory turnover and variety.

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