What happened Shares of Nordstrom (NYSE: JWN) were up 2.8% on Monday after a Morgan Stanley analyst reiterated her hold rating on the stock, but set her price target at $21 a share, some 30% above its current price. So what The department store chain reported a massive $521 million first-quarter loss last week as the coronavirus pandemic took its toll, with sales plunged 40% to about $2 billion. It had to clear out merchandise at fire-sale prices, resulting in inventory levels falling 25% year over year. That let it look to the coming quarters with something of a clean slate now that its stores are reopening. Image source: Nordstrom. Now what No one was expecting any retailer to report good results this past quarter, and Nordstrom didn't surprise in that regard, yet the chain has sufficient liquidity to finance a comeback with approximately $1.4 billion in cash. It will emerge from the pandemic as a leaner operation after closing 16 underperforming stores, and will also face less competition as a number of competitors have filed for bankruptcy. Others, such as Lord & Taylor, intend to liquidate their stores upon reopening. Because Nordstrom has a developed e-commerce platform, had previously advanced plans to shift business from shopping malls (which are dying venues), and is focused on operating a smaller business, it is poised to make a recovery. But it may be several quarters before that materializes. 10 stocks we like better than NordstromWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Nordstrom wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Rich Duprey has no position in any of the stocks mentioned. The Motley Fool recommends Nordstrom. The Motley Fool has a disclosure policy.Source