It's Wednesday, March 3rd. Welcome to Market Fully. I'm Chris Hill with me today, the

one and only, Emily Fleppin. Thanks for being here. Thanks again for having me.

We have a quartet of fourth quarter earnings reports in entertainment and retail. Let's

start with this interesting duo. Nordstrom's profits and revenue came in solidly higher

than expected. Ross stores, a discount retailer, their profits and revenue were solidly lower

than expected. And yet, both stocks are down 4% this morning. And I think if I'm Nordstrom,

I'm a little, I'm a little miffed at this. What, I mean, take those in any order you want.

Well, I think the key word there is expected because what was expected for Nordstrom is

different than what was expected for Ross. Nordstrom has been a challenged business to

say the least. And despite revenue and earnings coming in higher than what was expected, those

expectations still represented a double digit 20% decrease year over year in terms of their

top line. So Nordstrom right now is in a really different position than a Ross. And Ross,

being a business that is mostly physical, very, very little, if any online presence, the

expectations there again, we're lower, but still represented only a 4% decrease year over year.

So it's a story of two retailers here, a high flying discount retailer that has struggled in

the midst of COVID with very little digital footprint against this legacy retailer that has been

in the process of really downsizing its business, trying to get more in to the discounted retailers,

just trying to prove that its business isn't going to zero, or at least isn't going to zero as

quickly as some people believe. And, you know, added context around Ross stores. As you said,

they're so heavily levered to physical locations, a bunch of which are in California. And so

they essentially had a bunch of stores closed for this quarter. So not all that surprising.

Nordstrom stock, both these stocks are barely in the positive column over the past year.

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