Nordstrom (JWN) Trading Up Sharply During the Piper Jaffray Conference

Nordstrom (NYSE: JWN) was trading sharply higher (+3.5%) into the company's presentation at the Piper Jaffray conference at 10:15ET. During the presentation, the management team stated that the newly implemented loyalty rewards program signed up more than 1 million customers in less than a month. The management had been targeting signing 5 million in the first year indicating that the program is far ahead of plan. The company also offered a little more detail into its joint sales agreement with Telsa (TSLA); the company is testing the market at The Grove, the Los Angeles one store with the potential for larger rollout going forward. Nordstrom operates 121 stores in addition to 200 Nordstrom Rack stores.

** SI NOTE: JWN was highlighted in the Stealth Growth Insider newsletter on June 7th.

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