Brean Capital Expects In-Line Quarter for Nordstrom

In a report published Tuesday, Brean Capital analyst Tom Forte reiterated a Hold rating on

. In the report, Brean Capital noted, "Nordstrom is the 33rd largest retailer in the US based on 2013 retail sales, according to the National Retail Federation (NRF). Its store portfolio spans 116 full-line Nordstrom stores, 167 Nordstrom Rack outlets, 2 Jeffrey boutiques, and 1 clearance store (as of February 2015). Its e-commerce portfolio includes Nordstrom.com, NordstromRack.com, flash sales site HauteLook.com and e-commerce services site Trunk Club. The company will be reporting 4Q14 earnings on Thursday, February 19th at 4:45 PM ET. While we are forecasting an in-line quarter, there are several things we will be monitoring closely including the status of its potential credit card receivables sales, impact on sales and margins from changes to its clearance strategy, online efforts results and influence (including Trunk Club and HauteLook returns impact on NordstromRack traffic), international expansion (Canada), and logistics-related comments. We are reiterating our Hold rating, as, in our view, its $79.41 share price adequately reflects our favorable opinion of Nordstrom and its business model." Nordstrom closed on Friday at $79.41.