Nordstrom shares are soaring after the department store chain offered up an upbeat outlook for the coming year, forecasting profits and single-digit revenue growth.
Other retailers including Macy’s, Kohl’s and Target have similarly offered better-than-expected full-year forecasts in recent days. They anticipate further consumer momentum as people return to social activities and offices.
But none have seen as strong of a reaction on Wall Street as Nordstrom. Its shares closed Wednesday up a whopping 37.8%, bringing the retailer’s market cap to $4.3 billion.
Source: CNBC
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