Retail Analyst Brian Sozzi: Can See Where Gundlach is Coming from on Nordstrom

Yesterday at the Ira Sohn investment conference, bond fund manager Jeff Gundlach presented a bearish thesis on luxury retailer Nordstrom (NYSE: JWN).

Gundlach questioned the company's valuation, and stated that the chart "looked like death."

Retail analyst Brian Sozzi of NBG commented to Benzinga about Gundlach's stance.

"I can definitely see where he's coming from," Sozzi told Benzinga. "Nordstrom should have the sales this year, but maybe not the profits."

Sozzi stated that Nordstrom's bottom line could be hurt by this investment, ultimately leading to single digit profit growth.