Nordstrom stock soared after the department store delivered a surprise profit in its fiscal third quarter. However the company’s off-price division was one of the weaker performers, highlighting the continuing challenges—but also the long-term opportunities—for the sector.
Nordstrom’s (JWN) quarter wasn’t typical, as it included the company’s delayed Anniversary Sale, normally a fixture in the second quarter. Yet even excluding that event—which boosted its full-line and digital revenues, the Nordstrom Rack unit was still…
