Nordstrom, Gap plunge with Street worried about rivals chipping away share [Financial Post (Toronto, Ontario, Canada)]
TJX Companies, Inc. (The) (TJX)
Last tjx companies, inc. (the) earnings: 2/26 08:00 am
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Source: Financial Post
holiday season raised fears that the retailers were losing out to better-prepared competitors. A bunch of Wall Street analysts lowered their price targets, with Wells Fargo nearly halving its target on Gap and Jefferies making the most aggressive cut on Nordstrom. Sneak peek: Best Buy pre-Black Friday deals Advertisement On Tuesday, Nordstrom said its off-price business – Nordstrom Rack – has suffered severe shortages of women's apparel and shoes, while Gap flagged up to $650 million in lost sales and cut its annual forecast. Advertisement Article content Nordstrom was downgraded to “hold” from “buy” at Jefferies, and Credit Suisse analysts said Nordstrom Rack is not positioned well competitively compared to rivals such as TJX Cos and Burlington Stores. “Nordstrom will need to re-evaluate its strategy of primarily using Rack to clear end of season goods from the brands that it sells at full-price stores,” the brokerage said. Nordstrom executives on a post-earnings ca
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TJX
News
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- J.C. Penney launches new plan to save customers up to $500 million [TheStreet.com]TheStreet.com
TJX
Earnings
- 2/28/24 - Beat
TJX
Sec Filings
- 4/25/24 - Form ARS
- 4/25/24 - Form DEFA14A
- 4/25/24 - Form DEF
- TJX's page on the SEC website