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Here is the reason behind Nordstrom Inc. (JWN) stock sinking on Tuesday?

JWN Stock

JWN Stock

Nordstrom Inc. (JWN) shares plummeted 23.21% in after-hours on Tuesday, November 23, 2021, and closed the daily trading at $24.52. Even in the regular trading session, JWN’s stock lost 1.21%. JWN shares have risen 36.22% over the last 12 months, and they have moved down 4.66% in the past week. Over the past three months, the stock has gained 2.54%, while over the past six months, it has declined 7.10%.

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JWN latest developments

On November 23, 2021, Nordstrom, Inc. (JWN) reported its financial results for the third quarter which ended on October 30, 2021.


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Q3 2021 financial highlights

FY 2021 Financial outlook

For fiscal 2021, Nordstrom is expecting,

JWN partnership with Fanatics

On November 18, 2021, Nordstrom (JWN) and Fanatics, announced a new long-term partnership through which Nordstrom.com customers will have access to shop thousands of high-quality licensed sports fan products available exclusively through Fanatics’ industry-leading assortment. Fanatics will also make championship products and other real-time items available that are designed and manufactured on demand through the company’s vertical commerce business model and agile supply chain.

JWN season of Joy

On October 18, 2021, Nordstrom (JWN) announced that it has the best gifts festive experiences, and convenient services to make gifting easy for holiday seasons. Nordstrom is excited to offer customers the very best gifts for everyone on their list through the Holiday Gift Shop in stores and online, through the Nordstrom Gift Hub, customers can buy all kinds of gifts.

New JWN Cristina Martinez collection

On September 27, 2021, Nordstrom (JWN) by Cristina Martinez collection was launched in celebration of Latinx Heritage Month. The initial collection is designed around three original pieces of artwork created by Cristina; each piece encourages the viewer to stay rooted and keep blooming.

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Conclusion

The recent Q3 financial results were the reason behind its severe decline in the after-hours on Tuesday. The rising labour cost and missing the revenue estimates were the main reason behind its poor performance on Tuesday.

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