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Nordstorm (JWN) warns their financial situation could become worse due to COVID-19

Nordstorm (JWN) currently trades at $20.00 and has grown by 10.86% today. Nordstrom has already taken several measures to cut costs and raise additional liquidity, as have many other retailers. It has furloughed the majority of its workforce, suspended its quarterly dividend payment effective in the second quarter of 2020, drawn down $800 million on its revolving credit facility and halted share repurchases. “While the Company continues to generate sales and clear excess inventory by fulfilling customer online orders from both its physical stores and its fulfillment centers, we are uncertain when we will be able to reopen our physical stores to customers,” Nordstrom said Wednesday.

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Based on this information, investorsQ rates this stock 5 out of 10. We give it this rating based on current information written in this article. The high forecast for Nordstorm is $48.00 and the low is $15.00. Notably, the company’s market cap is $3.12 billion with a 52 week high of $46.00 and a 52 week low of $12.27. JWN went up to $1.96 from the previous closing price of $18.04. JWN has changed in price by -11.39 per share in the last 12 months.

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About JWN:

Nordstrom, Inc. is a leading fashion retailer offering compelling clothing, shoes and accessories for men, women and kids. Since 1901, we’ve been committed to providing our customers with the best possible service—and to improving it every day.

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