Standard & Poor’ share their viewpoint on Nordstrom Inc. (NYSE:JWN). Nordstrom Inc trades on the “New York Stock Exchange” under the stock symbol “JWN”For more information regarding the most recent information taking place with Nordstrom’s, “JWN” make sure to visit the Most Exclusive and Leading in Depth newsletter website at: http://www.wallstreetgrand.com/.
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Credit ratings agency Standard & Poor's said Thursday it revised its outlook on luxury chain Nordstrom Inc. to positive from stable after performing relatively well during a difficult year for retailers.
S&P affirmed its "BBB+" rating on Nordstrom, which is a medium investment grade.
Luxury stores have been hurt as consumer’s trade down to cheaper options due to worries about jobs and the economy. But Nordstrom said last month its fourth-quarter profit more than doubled from a year ago as the upscale retailer, cushioned by lean inventory, didn't have as many clearance racks to get rid of.
The positive outlook reflects "improved trends during the second half of 2009, expectations for performance gains over the near term, and maintenance of above-average credit protection metrics for the rating category," S&P said in a statement.
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