Argus analyst Kristina Ruggeri keeps her Hold rating on Nordstrom given the company’s "challenging outlook". Nordstrom is facing pressure from rising costs, reduced demand for its products, and excess inventory, though the company has strong brand recognition and is benefiting from online partnerships, the analyst tells investors in a research note. Ruggeri is also raising her FY23 EPS view on the stock by 4c to $2.32.
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