Notable Hit: (JWN:NYSE) On Thursday March 2, 2023 Nordstrom, Inc. (JWN) posted revenues of $4.32 bn, missing the consensus estimates by 1% and in the same direction as Advan's forecasted sales. The revenue decreased 3.7% YoY - in line with Advan's foot traffic data decrease of 7.9% YoY at its department stores for Q4 2022. Advan's footfall data has a correlation of 0.97 on a YoY basis with JWN's top-line revenue over the last 15 quarters.
Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.
Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.