Intrinsic value of Nordstrom - JWN

Previous Close

$58.99

  Intrinsic Value

$112.58

stock screener

  Rating & Target

str. buy

+91%

Previous close

$58.99

 
Intrinsic value

$112.58

 
Up/down potential

+91%

 
Rating

str. buy

We calculate the intrinsic value of JWN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 9.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.20
  6.08
  5.97
  5.87
  5.79
  5.71
  5.64
  5.57
  5.52
  5.46
  5.42
  5.38
  5.34
  5.31
  5.27
  5.25
  5.22
  5.20
  5.18
  5.16
  5.15
  5.13
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
Revenue, $m
  16,438
  17,437
  18,478
  19,564
  20,696
  21,878
  23,111
  24,399
  25,745
  27,152
  28,623
  30,162
  31,773
  33,458
  35,223
  37,071
  39,007
  41,036
  43,161
  45,389
  47,725
  50,174
  52,742
  55,435
  58,260
  61,223
  64,332
  67,593
  71,015
  74,606
Variable operating expenses, $m
  13,675
  14,505
  15,369
  16,271
  17,211
  18,192
  19,217
  20,286
  21,404
  22,573
  23,771
  25,049
  26,386
  27,786
  29,251
  30,786
  32,394
  34,079
  35,844
  37,694
  39,634
  41,668
  43,800
  46,037
  48,383
  50,844
  53,425
  56,134
  58,976
  61,958
Fixed operating expenses, $m
  1,747
  1,785
  1,824
  1,864
  1,905
  1,947
  1,990
  2,034
  2,079
  2,124
  2,171
  2,219
  2,268
  2,318
  2,369
  2,421
  2,474
  2,528
  2,584
  2,641
  2,699
  2,758
  2,819
  2,881
  2,945
  3,009
  3,076
  3,143
  3,212
  3,283
Total operating expenses, $m
  15,422
  16,290
  17,193
  18,135
  19,116
  20,139
  21,207
  22,320
  23,483
  24,697
  25,942
  27,268
  28,654
  30,104
  31,620
  33,207
  34,868
  36,607
  38,428
  40,335
  42,333
  44,426
  46,619
  48,918
  51,328
  53,853
  56,501
  59,277
  62,188
  65,241
Operating income, $m
  1,016
  1,147
  1,285
  1,429
  1,580
  1,738
  1,904
  2,079
  2,262
  2,455
  2,682
  2,895
  3,119
  3,355
  3,603
  3,864
  4,139
  4,429
  4,733
  5,054
  5,392
  5,748
  6,123
  6,517
  6,933
  7,370
  7,831
  8,316
  8,827
  9,366
EBITDA, $m
  1,732
  1,905
  2,086
  2,276
  2,475
  2,683
  2,901
  3,130
  3,370
  3,622
  3,886
  4,164
  4,456
  4,763
  5,086
  5,425
  5,781
  6,156
  6,550
  6,965
  7,401
  7,860
  8,343
  8,851
  9,385
  9,948
  10,539
  11,162
  11,817
  12,506
Interest expense (income), $m
  134
  148
  172
  197
  223
  250
  278
  308
  338
  370
  404
  439
  476
  514
  554
  596
  640
  686
  734
  785
  838
  893
  952
  1,013
  1,077
  1,144
  1,214
  1,288
  1,365
  1,447
  1,532
Earnings before tax, $m
  869
  975
  1,088
  1,206
  1,330
  1,460
  1,597
  1,741
  1,892
  2,051
  2,243
  2,419
  2,605
  2,801
  3,007
  3,224
  3,453
  3,694
  3,948
  4,216
  4,499
  4,796
  5,110
  5,441
  5,789
  6,156
  6,543
  6,951
  7,381
  7,834
Tax expense, $m
  235
  263
  294
  326
  359
  394
  431
  470
  511
  554
  605
  653
  703
  756
  812
  871
  932
  997
  1,066
  1,138
  1,215
  1,295
  1,380
  1,469
  1,563
  1,662
  1,767
  1,877
  1,993
  2,115
Net income, $m
  634
  712
  794
  880
  971
  1,066
  1,166
  1,271
  1,381
  1,497
  1,637
  1,766
  1,902
  2,044
  2,195
  2,354
  2,521
  2,697
  2,882
  3,078
  3,284
  3,501
  3,730
  3,972
  4,226
  4,494
  4,777
  5,074
  5,388
  5,719

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  8,620
  9,144
  9,690
  10,259
  10,853
  11,472
  12,119
  12,795
  13,500
  14,238
  15,010
  15,817
  16,661
  17,545
  18,470
  19,440
  20,455
  21,518
  22,633
  23,801
  25,026
  26,310
  27,657
  29,069
  30,551
  32,104
  33,735
  35,445
  37,239
  39,122
Adjusted assets (=assets-cash), $m
  8,620
  9,144
  9,690
  10,259
  10,853
  11,472
  12,119
  12,795
  13,500
  14,238
  15,010
  15,817
  16,661
  17,545
  18,470
  19,440
  20,455
  21,518
  22,633
  23,801
  25,026
  26,310
  27,657
  29,069
  30,551
  32,104
  33,735
  35,445
  37,239
  39,122
Revenue / Adjusted assets
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
  1.907
Average production assets, $m
  4,290
  4,551
  4,823
  5,106
  5,402
  5,710
  6,032
  6,368
  6,720
  7,087
  7,471
  7,872
  8,293
  8,733
  9,193
  9,676
  10,181
  10,710
  11,265
  11,847
  12,456
  13,095
  13,766
  14,469
  15,206
  15,979
  16,791
  17,642
  18,535
  19,472
Working capital, $m
  -970
  -1,029
  -1,090
  -1,154
  -1,221
  -1,291
  -1,364
  -1,440
  -1,519
  -1,602
  -1,689
  -1,780
  -1,875
  -1,974
  -2,078
  -2,187
  -2,301
  -2,421
  -2,547
  -2,678
  -2,816
  -2,960
  -3,112
  -3,271
  -3,437
  -3,612
  -3,796
  -3,988
  -4,190
  -4,402
Total debt, $m
  3,184
  3,645
  4,126
  4,627
  5,149
  5,695
  6,264
  6,858
  7,479
  8,129
  8,807
  9,518
  10,261
  11,039
  11,853
  12,706
  13,599
  14,535
  15,516
  16,544
  17,622
  18,752
  19,937
  21,180
  22,484
  23,851
  25,285
  26,790
  28,370
  30,027
Total liabilities, $m
  7,585
  8,046
  8,527
  9,028
  9,550
  10,096
  10,665
  11,259
  11,880
  12,530
  13,208
  13,919
  14,662
  15,440
  16,254
  17,107
  18,000
  18,936
  19,917
  20,945
  22,023
  23,153
  24,338
  25,581
  26,885
  28,252
  29,686
  31,191
  32,771
  34,428
Total equity, $m
  1,034
  1,097
  1,163
  1,231
  1,302
  1,377
  1,454
  1,535
  1,620
  1,709
  1,801
  1,898
  1,999
  2,105
  2,216
  2,333
  2,455
  2,582
  2,716
  2,856
  3,003
  3,157
  3,319
  3,488
  3,666
  3,853
  4,048
  4,253
  4,469
  4,695
Total liabilities and equity, $m
  8,619
  9,143
  9,690
  10,259
  10,852
  11,473
  12,119
  12,794
  13,500
  14,239
  15,009
  15,817
  16,661
  17,545
  18,470
  19,440
  20,455
  21,518
  22,633
  23,801
  25,026
  26,310
  27,657
  29,069
  30,551
  32,105
  33,734
  35,444
  37,240
  39,123
Debt-to-equity ratio
  3.080
  3.320
  3.550
  3.760
  3.950
  4.140
  4.310
  4.470
  4.620
  4.760
  4.890
  5.010
  5.130
  5.240
  5.350
  5.450
  5.540
  5.630
  5.710
  5.790
  5.870
  5.940
  6.010
  6.070
  6.130
  6.190
  6.250
  6.300
  6.350
  6.400
Adjusted equity ratio
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  634
  712
  794
  880
  971
  1,066
  1,166
  1,271
  1,381
  1,497
  1,637
  1,766
  1,902
  2,044
  2,195
  2,354
  2,521
  2,697
  2,882
  3,078
  3,284
  3,501
  3,730
  3,972
  4,226
  4,494
  4,777
  5,074
  5,388
  5,719
Depreciation, amort., depletion, $m
  716
  758
  802
  847
  895
  945
  997
  1,051
  1,108
  1,167
  1,205
  1,270
  1,338
  1,408
  1,483
  1,561
  1,642
  1,727
  1,817
  1,911
  2,009
  2,112
  2,220
  2,334
  2,453
  2,577
  2,708
  2,845
  2,990
  3,141
Funds from operations, $m
  1,350
  1,470
  1,596
  1,728
  1,866
  2,010
  2,162
  2,322
  2,489
  2,664
  2,842
  3,036
  3,239
  3,453
  3,678
  3,914
  4,163
  4,424
  4,699
  4,989
  5,293
  5,613
  5,951
  6,305
  6,679
  7,071
  7,485
  7,920
  8,377
  8,859
Change in working capital, $m
  -57
  -59
  -61
  -64
  -67
  -70
  -73
  -76
  -79
  -83
  -87
  -91
  -95
  -99
  -104
  -109
  -114
  -120
  -125
  -131
  -138
  -144
  -152
  -159
  -167
  -175
  -183
  -192
  -202
  -212
Cash from operations, $m
  1,406
  1,529
  1,657
  1,792
  1,933
  2,080
  2,235
  2,398
  2,568
  2,747
  2,929
  3,126
  3,334
  3,552
  3,782
  4,023
  4,277
  4,544
  4,825
  5,120
  5,431
  5,758
  6,102
  6,464
  6,845
  7,246
  7,668
  8,112
  8,579
  9,071
Maintenance CAPEX, $m
  -651
  -692
  -734
  -778
  -824
  -871
  -921
  -973
  -1,027
  -1,084
  -1,143
  -1,205
  -1,270
  -1,338
  -1,408
  -1,483
  -1,561
  -1,642
  -1,727
  -1,817
  -1,911
  -2,009
  -2,112
  -2,220
  -2,334
  -2,453
  -2,577
  -2,708
  -2,845
  -2,990
New CAPEX, $m
  -253
  -261
  -272
  -283
  -296
  -308
  -322
  -336
  -351
  -367
  -384
  -402
  -420
  -440
  -461
  -482
  -505
  -529
  -555
  -582
  -610
  -639
  -670
  -703
  -737
  -773
  -811
  -851
  -893
  -937
Cash from investing activities, $m
  -904
  -953
  -1,006
  -1,061
  -1,120
  -1,179
  -1,243
  -1,309
  -1,378
  -1,451
  -1,527
  -1,607
  -1,690
  -1,778
  -1,869
  -1,965
  -2,066
  -2,171
  -2,282
  -2,399
  -2,521
  -2,648
  -2,782
  -2,923
  -3,071
  -3,226
  -3,388
  -3,559
  -3,738
  -3,927
Free cash flow, $m
  502
  576
  651
  730
  813
  901
  992
  1,088
  1,190
  1,296
  1,402
  1,520
  1,644
  1,775
  1,913
  2,058
  2,211
  2,372
  2,542
  2,722
  2,911
  3,110
  3,320
  3,541
  3,774
  4,020
  4,279
  4,553
  4,841
  5,144
Issuance/(repayment) of debt, $m
  447
  461
  481
  501
  522
  545
  569
  594
  621
  649
  679
  710
  743
  778
  814
  853
  893
  936
  981
  1,028
  1,078
  1,130
  1,185
  1,243
  1,304
  1,367
  1,434
  1,505
  1,579
  1,657
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  447
  461
  481
  501
  522
  545
  569
  594
  621
  649
  679
  710
  743
  778
  814
  853
  893
  936
  981
  1,028
  1,078
  1,130
  1,185
  1,243
  1,304
  1,367
  1,434
  1,505
  1,579
  1,657
Total cash flow (excl. dividends), $m
  949
  1,037
  1,132
  1,231
  1,336
  1,446
  1,561
  1,683
  1,811
  1,945
  2,081
  2,230
  2,387
  2,553
  2,727
  2,911
  3,105
  3,308
  3,523
  3,750
  3,988
  4,240
  4,505
  4,784
  5,078
  5,388
  5,714
  6,058
  6,420
  6,801
Retained Cash Flow (-), $m
  -57
  -63
  -66
  -68
  -71
  -74
  -78
  -81
  -85
  -89
  -93
  -97
  -101
  -106
  -111
  -116
  -122
  -128
  -134
  -140
  -147
  -154
  -162
  -169
  -178
  -186
  -196
  -205
  -215
  -226
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  892
  974
  1,066
  1,163
  1,265
  1,371
  1,484
  1,602
  1,726
  1,857
  1,988
  2,133
  2,286
  2,447
  2,616
  2,795
  2,983
  3,181
  3,390
  3,610
  3,841
  4,086
  4,343
  4,614
  4,900
  5,201
  5,518
  5,853
  6,205
  6,575
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  855
  892
  928
  958
  980
  995
  1,002
  1,001
  992
  973
  944
  910
  869
  821
  768
  710
  649
  586
  522
  459
  397
  339
  285
  235
  191
  152
  118
  91
  68
  50
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Nordstrom, Inc. is a fashion specialty retailer in the United States. The Company's segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards. As of March 20, 2017, the Retail segment included its 117 Nordstrom-branded full-line stores in the United States and Nordstrom.com, 216 off-price Nordstrom Rack stores, five Canada full-line stores, Nordstromrack.com/HauteLook, seven Trunk Club clubhouses and TrunkClub.com, two Jeffrey boutiques and two clearance stores that operate under the name Last Chance. The Company, through Credit segment, allows its customers to access a range of payment products and services, including a Nordstrom-branded private label card, approximately two Nordstrom-branded Visa credit cards and a debit card for Nordstrom purchases.

FINANCIAL RATIOS  of  Nordstrom (JWN)

Valuation Ratios
P/E Ratio 28.3
Price to Sales 0.7
Price to Book 11.5
Price to Tangible Book
Price to Cash Flow 6.1
Price to Free Cash Flow 12.5
Growth Rates
Sales Growth Rate 2.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -21.8%
Cap. Spend. - 3 Yr. Gr. Rate 1%
Financial Strength
Quick Ratio 92
Current Ratio 0
LT Debt to Equity 317.6%
Total Debt to Equity 318.9%
Interest Coverage 6
Management Effectiveness
Return On Assets 5.4%
Ret/ On Assets - 3 Yr. Avg. 7.5%
Return On Total Capital 9.7%
Ret/ On T. Cap. - 3 Yr. Avg. 12%
Return On Equity 40.7%
Return On Equity - 3 Yr. Avg. 36.3%
Asset Turnover 1.9
Profitability Ratios
Gross Margin 36%
Gross Margin - 3 Yr. Avg. 36.8%
EBITDA Margin 9.9%
EBITDA Margin - 3 Yr. Avg. 11.8%
Operating Margin 5.5%
Oper. Margin - 3 Yr. Avg. 7.6%
Pre-Tax Margin 4.6%
Pre-Tax Margin - 3 Yr. Avg. 6.7%
Net Profit Margin 2.4%
Net Profit Margin - 3 Yr. Avg. 4%
Effective Tax Rate 48.2%
Eff/ Tax Rate - 3 Yr. Avg. 42%
Payout Ratio 72.3%

JWN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the JWN stock intrinsic value calculation we used $15478 million for the last fiscal year's total revenue generated by Nordstrom. The default revenue input number comes from 0001 income statement of Nordstrom. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our JWN stock valuation model: a) initial revenue growth rate of 6.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for JWN is calculated based on our internal credit rating of Nordstrom, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Nordstrom.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of JWN stock the variable cost ratio is equal to 83.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1709 million in the base year in the intrinsic value calculation for JWN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Nordstrom.

Corporate tax rate of 27% is the nominal tax rate for Nordstrom. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the JWN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for JWN are equal to 26.1%.

Life of production assets of 6.2 years is the average useful life of capital assets used in Nordstrom operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for JWN is equal to -5.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $977 million for Nordstrom - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 167.388 million for Nordstrom is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Nordstrom at the current share price and the inputted number of shares is $9.9 billion.

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COMPANY NEWS

▶ Nvidia, Nordstrom fall; PG&E, Sprint rise   [Nov-16-18 04:36PM  Associated Press]
▶ Etsy, Other Specialty Retailers Tumble   [02:44PM  TheStreet.com]
▶ 3 Stocks Fall Friday   [12:55PM  GuruFocus.com]
▶ Why Nordstrom Inc. Stock Plunged Today   [12:40PM  Motley Fool]
▶ [$$] Stocks to Watch: Viacom, PG&E, Nvidia, Nordstrom   [09:03AM  The Wall Street Journal]
▶ Day Ahead: Top 3 Things to Watch   [05:45PM  Investing.com]
▶ Nordstrom drops on EPS miss   [03:26PM  CNBC Videos]
▶ Brexit Blues and Fed Follies: Market Recon   [07:13AM  TheStreet.com]
▶ Nordstrom Board of Directors Approves Quarterly Dividend   [Nov-14-18 04:30PM  Business Wire]
▶ Nordstrom Could Be Vulnerable to a Near-Term Correction   [Nov-12-18 01:51PM  TheStreet.com]
▶ Stocks To Watch: These 5 Top Stocks Are In Or Near Buy Zones   [Nov-11-18 10:33AM  Investor's Business Daily]
▶ Another Strong Week Despite Friday Selloff   [Nov-10-18 09:15AM  Zacks]
▶ Earnings Preview: Can Nordstrom Maintain Its Momentum?   [Nov-09-18 08:23PM  Motley Fool]
▶ Nordstrom Mall Of San Juan Store Reopens   [09:00AM  PR Newswire]
▶ Retail Stocks May Be Ripe for a Trimming   [Nov-08-18 01:45PM  Barrons.com]
▶ 5 Companies Hit 52-Week Highs   [Nov-06-18 11:05AM  GuruFocus.com]
▶ U.S. Online Spending to Rise: 4 Retail Picks   [Nov-02-18 10:23AM  Zacks]
▶ 3 Retail Stocks Alerting Big Buying   [Oct-31-18 01:44PM  Investopedia]
▶ [$$] Forget Airline Miles. Retailers Pile on Perks for Big Spenders.   [Oct-30-18 10:06PM  The Wall Street Journal]
▶ Why Nordstrom Could Keep Beating the S&P 500   [04:21PM  GuruFocus.com]
▶ 'Let's Go Gifting'   [09:00AM  PR Newswire]
▶ Better Buy: Nordstrom vs. TJX Companies   [08:31AM  Motley Fool]
▶ The death of retail is 'totally oversubscribed'   [Oct-26-18 02:59PM  Yahoo Finance]

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