Apart from expanding its store base, Nordstrom Inc.’s (JWN) growth strategy focuses on improving the shopping experience at its existing stores through expansion, revamp and relocation. In one such move, the company announced its plans to relocate its full-line store at Westfield UTC in San Diego, CA, to a larger two-level space within the advanced wing of the same mall.
Westfield UTC, popularly known as University Towne Center (UTC.TO), is a shopping mall in the University City community of San Diego, CA. Located just east of La Jolla, near the University of California, San Diego campus, the mall is owned by the Westfield Group.
Moving westwards in the mall next to Genesee Avenue, the new Nordstrom store will expand the floor area from the existing 130,000 square feet to nearly 145,000 square feet. At its existing location in the mall, Nordstrom competes with retailers like Macy’s Inc. (M) and Sears Holdings Corp. (SHLD), while the latest wing is expected to house a number of new specialty shops, restaurants, entertainment, sustainable design features and family-friendly amenities.
While the new refurbished full-line store is expected to open doors to public in 2017, the company will continue to operate from its existing location in the mall.
The interior of the relocated Nordstrom store will integrate the company’s modern store designing concepts, created with the intention of enhancing the customers' shopping experience. Nordstrom had come to the Westfield UTC three decades back in 1984.
Additionally, the company serves the La Jolla and the greater San Diego communities through three full-line stores operational at Fashion Valley in the greater San Diego area, Westfield Horton Plaza in San Diego and Westfield North County in Escondido. Apart from full-line stores, the company operates 4 Rack stores in the region including stores at Carmel Mountain Plaza and Westfield Mission Valley in San Diego, Westfield Plaza Bonita in National City and Grand Plaza in San Marcos.
Nordstrom’s latest store openings signify its commitment to strengthen the retail network to drive top-line growth. Nordstrom’s focus on store expansion is evident from the series of Rack store openings since the beginning of fiscal 2013. As of today, the company operates 267 outlets across 36 states, with 147 Nordstrom Racks, 117 full-line stores, 2 Jeffrey boutiques and 1 clearance outlet.
Currently, this Seattle-based company carries a Zacks Rank #4 (Sell). Another apparel, shoe retailer worth considering is American Apparel Inc. (APP), which carries a Zacks Rank #2 (Buy).