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(Reuters) - Nordstrom Inc’s (JWN.N) shares surged over 9 percent on Friday, a day after its quarterly same-store sales numbers trounced Wall Street estimates, leaving analysts impressed with the upscale retailer’s online channels and its clear inventories. The company’s shares, trading at $57.20 in premarket, are set to open at a near two-year high. Its shares were the biggest percentage gainer among the New York Stock Exchange listed companies. On Thursday, Nordstrom reported its best quarterly same-store sales growth in three years, boosted by strong online sales of 23 percent. It also raised its forecast for full year profit.

“Believe JWN has a best-in-class digital platform and is well ahead of department store peers in terms of leveraging innovative technology,” Cowen & Co analyst Oliver Chen wrote in a note, At least 6 brokerages raised their price targets on the Nordstrom stock after the company posted strong quarterly results across the board, Telsey Advisory Group’s Dana Telsey was the most bullish, raising the target price on the stock by $8 to $65, The company has been investing in top locations and expanding university of georgia needlepoint cufflinks its discount shopping chain, Nordstrom Rack to woo shoppers back that have increasingly defected to online channels and more fast-fashion brands, which offer the trendiest styles..

Nordstrom also has a Local concept store, where shoppers have personal stylists to them help pick out clothing and accessories, dressing rooms to try them on, online ordering, and services. “Nordstrom’s initiatives are beginning to bear fruit and have positioned it as a leader in the industry,” Telsey said in note titled “Nordstrom firing on all cylinders.”. Analysts also cheered the company’s inventory management and product assortment, which Nordstrom said was a “competitive advantage” for them.

The Seattle-based retailer’s upscale products gives it an edge over online competition from players such as (AMZN.O) as shoppers typically steer away from making expensive buys online, In stark contrast, J.C, Penney Co Inc (JCP.N) said it had made fashion missteps that led to heavy discounting of its inventories, sending its shares down 27 percent on Thursday, Cowen’s Chen said that the company could report better comparable sales in the future on the strength of its digital growth and university of georgia needlepoint cufflinks strong inventory management that is keeping their line fresh..

LONDON (Reuters) - Investors pulled billions from equities this week, shifting into bonds and high dividend-yielding sectors as Turkey’s currency crisis sparked a global selloff and emerging markets entered bear territory, an analysis of fund flows showed on Friday. The market was shifting into defensive mode, Bank of America Merrill Lynch (BAML) (BAC.N) strategists said, noting investors pulled money out of U.S. equities, technology and financials. Global equities suffered $3.6 billion of outflows while bonds saw $2.3 billion inflows as investors moved out of riskier assets, the BAML strategists said, citing data from EPFR, a fund flows data provider.

U.S, equity funds saw outflows of $2.6 billion, a turnaround from the previous week when U.S, funds were leading in terms of inflows, Funds investing in large-cap stocks were the main victims of selling, with $2.3 billion lost, Tech funds had $500 university of georgia needlepoint cufflinks million of outflows, their biggest since the February global market selloff, in a sign of increased caution around the sector which drove much of last year’s stock market gains and accounts for 30 percent of MSCI’s emerging markets index .MSCIEF..

China’s Tencent (0700.HK) this week slipped after reporting its first quarterly profit decline in nearly 13 years, sparking renewed concerns the tech boom may be slowing. Cumulative flows into the sector were showing signs of peaking, too, strategists said. Financials saw $1.2 billion of outflows while energy funds lost $600 million, another sign of investors’ growing caution over sectors more correlated with the business cycle. Defensives such as consumer staples, utilities, real estate, healthcare and telecoms, seen as safer for their high dividend payouts, have been the top-performing U.S. sectors for the past three months.

Healthcare stocks drew $800 million of inflows this week, driving the total to $5.5 billion over the past three months and making the sector one of the most “overbought” according to BAML, Pressure on European equities was unrelenting: Europe had its 23rd straight week of outflows with $2.9 billion pulled from university of georgia needlepoint cufflinks the region’s equity funds, Japan, meanwhile, was the sole region to see inflows, with $300 million, In a week where MSCI’s emerging markets index entered bear territory, down 20 percent from the January peak, EM equity funds saw just $200 million of outflows, while $500 million left EM debt funds..

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