Why Analysts Are Cheering Nordstrom’s Card Business Sale

While it’s not as big as Costco (COST) dumping American Express (AXP), Nordstrom has, Nordstrom (JWN) announced that it would sell its $2.2 billion credit card portfolio to TD Bank (TD). The agreement makes TD, Canada’s second-largest bank, the exclusive issuer for the department store’s U.S. credit cards going forward. Nordstrom will still get a [...]