Nordstrom Lines Up More Rack Stores - Analyst Blog
25 Marzo 2013 - 6:20PM
Zacks
Seattle-based Nordstrom Inc. (JWN) announced
plans to open 2 new Nordstrom Rack stores, one at the Shoppes at
University Town Center in Sarasota, Fla. and the other at
Shelbyville Road Plaza in Louisville, KY by fall 2013.
Nordstrom’s new Rack store in Fla. at the Shoppes at University
Town Center will add to the company’s 9 full-line and 8 Rack stores
operating in the state. The new Rack store will enclose about
35,000 square feet space in the centrally located mall between the
intersection of I-75 and University Parkway and across the street
from the future Mall at University Town Center.
Occupying the space formerly held by Circuit City, the new Rack
store will join a mix of vibrant retailers in the mall, including
Marshalls, Ross Stores Inc. (ROST) and
Pier 1 Imports Inc. (PIR).
Apart from the current announcement, Nordstrom has 2 more Rack
store openings lined up in Jacksonville and Naples, Florida this
fall season. Additionally, the company is slated to open a
full-line store in Jacksonville next year.
Nordstrom announced its entry in Kentucky with its first Rack store
in the Shelbyville Road Plaza. This store will cater to the
company’s Kentucky-based customers who frequent Cincinnati and
Indianapolis for their needs. The new Rack store will occupy 33,000
square feet space, previously held by Circuit City in the mall
located off the I-264. Other retailers housed in the mall include
Trader Joe's, Ross, and Nike Inc.’s (NKE) Factory
Store.
Nordstrom’s Rack stores generally offer merchandise from Nordstrom
stores and Nordstrom.com at a significantly reduced price to
customers. Products at these stores are sold with discounts of
roughly 50% to 60% from the original Nordstrom tags. Nordstrom Rack
also carries a vast assortment of branded apparel, accessories and
shoes that are available at Nordstrom stores, and are offered to
customers at a discount of about 30% – 70%.
Nordstrom’s latest store openings signify the company’s commitment
to strengthen its network with the aim of driving top-line growth.
As of Mar 21, 2013, Nordstrom operated 242 stores, including 117
Nordstrom full-line stores, 121 Nordstrom Racks, 2 Jeffrey
boutiques, 1 treasure&bond store and 1 clearance store.
Nordstrom currently maintains a Zacks Rank #4 (Sell).
NORDSTROM INC (JWN): Free Stock Analysis Report
NIKE INC-B (NKE): Free Stock Analysis Report
PIER 1 IMPORTS (PIR): Free Stock Analysis Report
ROSS STORES (ROST): Free Stock Analysis Report
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