Narrow-moat Nordstrom quickly addresses problems at Nordstrom Rack.
Like its department store competitors, narrow-moat Nordstrom faced weather-related headwinds in the third quarter with hurricanes impacting the $0.67 earnings per share by $0.04 and management expecting another $0.02 headwind in the fourth quarter. We note that this wholly accounts for the decline in full-year EPS guidance to $2.85-$2.95 from $2.85-$3.00 (versus our current $2.98 estimate). We expect to lower our $53 fair value estimate by $2-$3 to account for this impact as well as slightly slo...Nordstrom is a fashion retailer providing a selection of brand-name and private label apparel, shoes, cosmetics and accessories for women, men, young adults and children. The company serves customers through two businesses: Full-Price and Off-Price. The company's operations consist of the company's Nordstrom U.S. and Canada full-line stores, U.S. and Canada Nordstrom Rack stores, Jeffrey boutiques, Last Chance clearance stores, Trunk Club clubhouses and Nordstrom Local. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com, HauteLook and TrunkClub.com.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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