Emme Kozloff
Emme Kozloff
access additional allow capitalize designer expertise importance past provides sales strong trends
However, the importance of this transaction is that it provides Nordstrom with additional talent, expertise and access to the designer category. This should allow Nordstrom to capitalize on strong sales trends they have been experiencing over the past two years.
departure kevin loss management result seen senior turner within
Kevin Turner was seen as an up-and-comer within senior management ranks, so the departure does result in a loss of talent.
coverage expect hit laid middle outside planned range retailers
Outside of Wal-Mart, we expect the retailers under our coverage to hit the middle to upper end of the planned range laid out by managements.
action clear far lower management market multiple plan premium provides slight until
A slight premium to the market is about as far as the P/E multiple should go until management provides us with a clear action plan to lower controllable costs.
broad business complexity executive given necessity positive scope single
We see this as a positive and a necessity given that the scope and complexity of Wal-Mart's U.S. business is too broad for a single executive to oversee anymore.
alter course departure executive exposed good inside kevin light loss ranks timing turner weakness
While the timing of this executive departure is not particularly good for Wal-Mart in light of the Coughlin situation, which exposed weakness inside the upper ranks of Wal-Mart management, the loss of Kevin Turner is not going to alter the course of the company.