Nordstrom Inc at Cowen New Retail Ecosystem CEO Summit: Innovation & Digitization (Virtual) Transcript
Good afternoon, everybody.
A connected ecosystem drives retail closer to you. We're here with Nordstrom; Erik Nordstrom, the CEO of Nordstrom; and Anne Bramman, the CFO of Nordstrom. I'm pleased to welcome them both. Erik Nordstrom is Nordstrom's CEO. He previously served as co-President of Nordstrom. And Anne Bramman is Nordstrom's CFO. She joined Nordstrom in 2017 from Avery Dennison, where she served as CFO since 2015. She's also been the CFO at Carnival Cruise Line and Henri Bendel.
At Nordstrom, we have a $38 price target on 15x. They reported earnings last night as well as sales improved 13% below what -- first quarter '19, and EBIT margin also improved. Management reiterated their outlook.
So thank you so much, Erik and Anne, for joining us here. Excited to have you.
It's a pleasure to have -- to join you as well, Oliver.
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