Courtney Garcia reveals one of her favourite retail stocks

Nordstrom Inc (NYSE: JWN) is taking a beating this month, now down more than 15% since last Wednesday. Still, Payne Capital’s senior wealth advisor is convinced the sell-off only creates an opportunity to load up on the stock.

Garcia explains why she likes Nordstrom

Courtney Garcia agrees a 3.28% dividend yield makes Nordstrom Inc attractive, but has several other reasons to be in the retail stock as well. This afternoon on CNBC’s “Power Lunch”, she said:

Garcia expects the U.S. consumer to remain strong in the face of surging inflation, which could be another tailwind for the Seattle-headquartered American luxury department store chain.

Garcia says JWN is a cheap stock

Analysts forecast Nordstrom Inc to report 9 cents of per-share loss for its fiscal first quarter. Explaining why she still likes the stock in the retail space, Payne Capital’s Garcia further added:

The NYSE-listed firm is expected to report its Q1 results in the coming weeks. Wall Street has an average price target of $25.67 on JWN that represents a 10% upside from here.