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Nordstrom's surprising share price drop despite profitability and revenue growth is largely due to dividend payments. The company's 13% TSR over the last year falls short of the market average, but the negative five-year TSR trend may signal a business turnaround.

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Investors closely watched Federal Reserve President Jerome Powell Tuesday as he spoke before the Senate Banking Committee, the first of a two-day stint before Senators and House Representatives. Fielding questions about mergers and monetary policy, Powell said there would likely be rate cuts this year and that service inflation would have to come down, but no recession was coming.
Markets climbed cautiously while watching Powell...

Investors closely watched Federal Reserve President Jerome Powell Tuesday as he remarks before the Senate Banking Committee, the first of a two-day stint before Senators and House Representatives. Fielding questions about mergers and monetary policy, Powell said there would likely be rate cuts this year, and that service inflation would have to come down.
Markets climbed cautiously while watching Powell after pulling back from yet a...

The company's flat revenue guidance for 2024 reflects the volatile environment for discretionary-goods spending, particularly in apparel, according to David Silverman, senior director at Fitch Ratings.

Nordstrom's shares are sinking in after-hours trading due to the softer 2024 guidance. CEO Erik Nordstrom expressed confidence in continued sales improvement and sustained profitability in 2024.

The weaker full-year guidance for fiscal 2024, particularly the lower midpoint of the company's EPS forecast, appears to have disappointed investors, leading to a drop in the company's share price in after-hours trading.