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Analysis: Nordstrom's soft store traffic too much to overcome

  • Nordstrom (JWN -1.6%) drifts lower after Q4 revenue comes in a touch light.
  • Department store sales fell 3.3% during the period which was too tough of a hit for the company's decent sales at Rack stores and thriving online business to offset.
  • Analysts are rubbing salt in Nordstrom's wounds: Stifel lowered its rating to Hold from Buy, while Sterne Agee and Macquarie dropped their price targets. Worries on soft traffic patterns is the common theme.
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