As previously reported, JPMorgan analyst Matthew Boss downgraded Nordstrom to Underweight from Neutral and lowered his price target on the stock to $41 from $51 after the company reported last night that its brick and mortar comps decelerated to down 5% over the Holiday period. The material deceleration at Full-line stores was "abrupt and broad-based across categories," noted Boss, who said he is concerned that trends will get worse before they get better. His same-store-sales and gross margin assumptions are now below management's analyst day targets and he cut his FY19 and FY20 EPS estimates to below consensus, Boss noted.