NEW YORK, NY / ACCESSWIRE / May 21, 2018 / Nordstrom and GameStop shares both saw big losses on Friday. Nordstrom saw its shares decline after posting first-quarter earnings that showed sluggish same-store sales compared to what analysts were anticipating. GameStop saw its stock fall after Bank of America/Merrill Lynch reiterated an "underperform" rating on the stock.

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GameStop Corp.
https://www.rdinvesting.com/report/?ticker=GME

Nordstrom, Inc.
https://www.rdinvesting.com/report/?ticker=JWN

GameStop Corp. shares closed down 8.52% this past Friday on about 10.2 million shares traded. The video game and console retailer saw its shares drop after some not so nice things were said by analysts. Bank of America/Merrill Lynch analysts have reiterated an "underperform" rating and a $10 price target. According to the analysts, GameStop has suffered from weak software sales figures during the month of April. In other news, Hedge Fund Tiger Management is trying to persuade the company into conducting a strategic review according to a CNBC report last week. CNBC cited a letter that was sent to GameStop's board. The hedge fund owns 25,000 shares of the company.

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Nordstrom, Inc. shares closed down almost 11% on Friday with nearly 11.5 million shares traded. The high-end department store retailer reported first-quarter earnings that did not get any celebration from Wall Street. The company's CFO Anne Bramman stated, "In off-price, sales were slightly below our plan reflecting outsized digital growth offset by Nordstrom Rack stores' performance." For the quarter, the company saw an increase of 0.4% in same-store sales. Full-price same-store sales saw an increase of 0.7%. Analysts had been waiting for a 1% increase in this area. However, the company reported digital sales were up 18% year-over-year, and digitally-enabled sales were up 29%. Optimistically, analysts at Cowen remarked, "We believe digital is a differentiator at Nordstrom and the retailer appears ahead of peers in terms of leveraging innovative technology to blend the physical and online channels. Looking ahead, we anticipate the retailer will continue to establish innovative strategies to further blend the channels, especially in-store plus mobile." The analysts, led by Oliver Chen, added, "On the call, management noted digital (nordstromrack.com and hautelook.com) sales were very strong, while stores saw some softness during the quarter, which was driven by weakness in seasonal categories. Despite recent softness, we continue to view Rack as important to Nordstrom in terms of both introducing a younger customer and Rack stores remain the largest source of new customers for Nordstrom."

Access RDI's Nordstrom, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=JWN

Our Actionable Research on GameStop Corp. (NYSE: GME) and Nordstrom, Inc. (NYSE: JWN) can be downloaded free of charge at Research Driven Investing.

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