Nordstrom Hitting a Ceiling
This weekend's Barron's ran a feature story extolling the virtues of somewhat high-end retailer Nordstrom (JWN). The publication called it "The Retailers' Retailer." As an occasional customer, I can attest to their devoting to guest services and good-quality merchandise.
My problem here is with the timing and stock price at the time of this "buy" recommendation. Nordstrom is within 1.4% of its 2008-to-2012 peak, and less than 3.5% off its 2007 all-time, pre-recession high of $59.70. It now trades for 16.7x expected earnings per share of $3.49 for the fiscal year ending Feb. 2, 2013....247 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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