AllianceBernstein Holding LP
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Financials : Capital Markets | Small Cap Value
Company profile

AllianceBernstein Holding L.P. provides diversified investment management, research, and related services to a range of clients. Its principal services include Institutional Services, Retail Services, Private Wealth Management Services and Bernstein Research Services. It offers Institutional Services to its institutional clients, which include private and public pension plans, foundations and endowments, insurance companies, central banks, and governments worldwide, and Equitable Holdings, Inc. (EQH) and its subsidiaries. Its retail services distribute retail products and services through financial intermediaries, including broker-dealers, insurance sales representatives, banks, registered investment advisors and financial planners. Private Wealth Management services its private clients, including high-net-worth individuals and families, trusts and estates, charitable foundations, partnerships, and other entities. It expands its private markets platform through CarVal Investors.

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Nordstrom prices are too high, survey finds

11:14 am ET July 11, 2022 (MarketWatch)

A UBS consumer survey of U.S. off-price and department-store retailers found that shoppers avoid Nordstrom Inc. (JWN) because of "high prices." "We believe this is why Nordstrom's full-price stores are losing more customers than they are gaining," wrote analysts led by Jay Sole. Nordstrom is a luxury retailer selling brands like Fendi and Givenchy that have garments priced for thousands of dollars. But Nordstrom also sells merchandise from more affordable labels like Free People, an Urban Outfitters Inc. (URBN) brand, and Steve Madden (SHOO). Nordstrom's big Anniversary Sale begins on July 15 for all of the shopping public. Nordstrom's off-price Rack business didn't score well with shoppers either. The number two quality that those shoppers are looking for is value, but respondents said TJ Maxx, a TJX Cos. (TJX) chain, Burlington Stores (BURL) and Amazon (AMZN) offer more of it. "Plus, Nordstrom Rack's customers' perception of prices at Nordstrom Rack are getting worse," UBS found. "We think this explains why Nordstrom Rack is struggling to maintain its level of loyal customers. Lastly, we note Nordstrom Rack customers are six times as likely to shop at Amazon as they are Nordstrom Rack when they shop online." UBS rates Nordstrom shares sell with a $12 price target. Nordstrom stock is down 10.3% for the year to date. See: Nordstrom stock soars 35% after reporting bigger profits on fewer markdowns

-Tonya Garcia


(END) Dow Jones Newswires

July 11, 2022 11:14 ET (15:14 GMT)

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