Canadian Retailer Expands to the U.S. Market
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S&P Lowers Outlook on Nordstrom (JWN) to Negative Following Q2 Results; Ratings Affirmed
August 12, 2016 11:12 AM EDTS&P Global Ratings today revised its outlook on Nordstrom Inc. (NYSE: JWN) to negative from stable. At the same time, we affirmed all ratings, including the 'BBB+' corporate credit rating.
"The outlook revision reflects our expectation that the company's soft operating performance trends will likely persist over the next 12 to 24 months, resulting in leverage weakening to the mid-2.0x area, and that operating performance and leverage could be worse than our base-case scenario. Along with many department stores, Nordstrom has seen profitability increasingly pressured by competition from online, fast-fashion, and off-price... More
