Benzinga | Aug 14, 2020 12:23PM EDT

Why Nordstrom's Stock Is Trading Higher Today

Nordstrom (NYSE:JWN) shares are trading higher, potentially following an increase in July U.S. retail sales.

Retail sales rose 1.2% in July, which makes it the third monthly increase in a row in light of the coronavirus pandemic. Although the financial health of many citizens is in jeopardy, consumer spending continues to rise.

Nordstrom is a fashion retailer that operates approximately 116 department stores in the U.S. and Canada and approximately 240 outlet stores under the names Nordstrom Rack and Last Chance.

Nordstrom was trading 5.52% higher at $17.69 at time of publication. The stock has a 52-week high of $43.37 and a 52-week low of $12.27.