Why Nordstrom Was Up Double Digits Today

Shares of Nordstrom (NYSE: JWN) were up big on Wednesday, rocketing 12.8% higher as of 12:20 p.m. ET. The reason is easy to point out -- last night, Nordstrom reported first-quarter earnings that handily beat analyst expectations. The beat came as somewhat of a surprise, as retail earnings have generally disappointed this month; however, Nordstrom has some attributes that appear to have insulated it from the worst effects of inflation and the reopening of the economy.