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Nordstrom, Inc. JWN has been persistently focusing on store-expansion strategy besides expanding in the digital space. In sync with its store-expansion efforts, management recently unveiled plans to inaugurate two Nordstrom Rack outlets in Los Angeles, CA. Of these, one store will open doors at The Vineyards at Porter Ranch in spring 2019 while the other will be opened at Plaza El Segundo in fall 2019.
Sprawling across 25,000 square feet, the store at The Vineyards at Porter Ranch will join Ulta Beauty, Inc. ULTA, AMC Theatres AMC and Whole Foods Market. The store will form both shopping and entertainment destination, featuring around 335,000 square feet commercial space.
The 23,640 square feet store at Plaza El Segundo will join Whole Foods Market, DryBar and DICK'S Sporting Goods, Inc. DKS. Plaza El Segundo is situated off the 405 Freeway on Sepulveda Boulevard and is next to the beach communities, including Manhattan Beach, Hermosa Beach as well as Redondo Beach.
Nordstrom Rack, the off-price retail segment of the company, offers fashion-savvy customers a wide range of on-trend apparel, footwear and other accessories at discounted prices. These Racks usually keep items from the main Nordstrom stores as well as the online store, Nordstrom.com. Further, these stores stack products from other major brands sold by the company.
Nordstrom operates 15 full-line stores in California and, is serving customers in the state since 1981, with its store in San Diego’s Fashion Valley.
Currently, the company operates 373 outlets across 40 states. Its portfolio includes 122 full-line stores in the United States, Puerto Rico and Canada; two Jeffrey boutiques, 239 Nordstrom Racks, two clearance stores, seven Trunk Club clubhouses as well as Nordstrom Local service concept.
Further, the company successfully completed its full-line store expansion in Canada by opening six stores. Nordstrom also opened three stores in Toronto and Calgary this spring, and is on track to open three new stores in fall 2018.
In addition, Nordstrom is keeping up with evolving retail industry, which is focused on offering maximum choices to customers for enhancing their shopping experience. In a recent move, the company has been aggressively working on the expansion of sizing options across different brands at its stores and online. Management announced the expansion of extended sizing for 100 brands across 30 stores. This will include various merchandising categories such as dresses, denim, swimwear, activewear and lingerie.
Nordstrom is on track to integrate its digital and physical assets to create innovative ways to shop. Additionally, it is focused on advancing in the technology space by boosting e-commerce and digital networks, apart from improving the company’s supply chain and marketing efforts.
This Zacks Rank #3 (Hold) stock has gained 11.4% in the past six months, faring better than the industry’s 9% upside.
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