The bull case for Nordstrom ahead of earnings

One market watcher is making the bull case for Nordstrom ahead of its quarterly earnings report coming Thursday afternoon.

Mark Tepper, president and CEO of Strategic Wealth Partners, would recommend buying shares of the company into earnings. Here are his reasons.

• Nordstrom, widely reported to be working toward going private, looks like a buy at current levels. CNBC reported last week the company was moving toward a go-private deal before earnings. The report sent Nordstrom shares surging.

• The company is successfully bridging the gap between brick-and-mortar retail and e-commerce. The company has a combination of high-end locations, more discount Nordstrom Rack locations and growth in online sales.

• The company opened a Nordstrom Local location late last year in California, which combines several experiences for shoppers like a personal stylist.

• Investors interested in Nordstrom may want to consider buying the stock ahead of its earnings report coming Thursday after the closing bell.

Analysts are largely expecting Nordstrom to report earnings of $2.95 per share, according to FactSet estimates.

Bottom line: Nordstrom shares are a buy ahead of earnings due out on Thursday afternoon, according to one market participant.

Disclosure: Both Mark Tepper and his firm own Nordstrom stock.

Vote
Vote to see results
Total Votes:

Not a Scientific Survey. Results may not total 100% due to rounding.

Videos

Trades to Watch

Trader Bios

About

Trading Nation is a multimedia financial news program that shows investors and traders how to use the news of the day to their advantage. This is where experts from across the financial world – including macro strategists, technical analysts, stock-pickers, and traders who specialize in options, currencies, and fixed income – come together to find the best ways to capitalize on recent developments in the market. Trading Nation: Where headlines become opportunities.

Michael Santoli

Michael Santoli joined CNBC in October 2015 as a Senior Markets Commentator, based at the network's Global Headquarters in Englewood Cliffs, N.J.  Santoli brings his extensive markets expertise to CNBC's Business Day programming, with a regular appearance on CNBC's “Closing Bell (M-F, 3PM-5PM ET).   In addition, he contributes to CNBCand CNBC PRO, writing regular articles and creating original digital videos.

Previously, Santoli was a Senior Columnist at Yahoo Finance, where he wrote analysis and commentary on the stock market, corporate news and the economy. He also appeared on Yahoo Finance video programs, where he offered insights on the most important business stories of the day, and was a regular contributor to CNBC and other networks.

Follow Michael Santoli on Twitter @michaelsantoli

Read more

Connect