Nordstrom (JWN) to Expand Reach With New Rack in Nebraska
Nordstrom, Inc.’s JWN decision to open a Nordstrom Rack in Omaha, NE, in the fall of 2024 represents a strategic move to expand its presence in new markets. This store marks the company's first venture into Nebraska, indicating a significant step in its growth strategy.
The store, encompassing 30,000 square feet, will be located in Village Pointe, a prominent shopping center in Omaha. This is under the ownership and management of RED Development, and strategically situated at the intersection of 168th Street and West Dodge Road, known for its diverse range of stores and attractions, including retailers like Best Buy, Scheels, lululemon and DSW.
The addition of Nordstrom Rack is expected to elevate the shopping center's profile, attracting both local shoppers and visitors to the area. In line with modern retail trends, this new store in Omaha will focus on providing a seamless and convenient shopping experience.
These include the ability for customers to pick up online orders from Nordstrom.com and NordstromRack.com at the Omaha location. Additionally, the store will facilitate easy returns, making the shopping experience more seamless and user-friendly.
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What’s More?
Nordstrom Rack plays a central role in Nordstrom's "Closer to You" strategy, a core initiative aimed at elevating the overall shopping experience for customers, both in their brick-and-mortar locations and through their digital platforms. It provides a diverse range of products, encompassing clothing, accessories, beauty products, home furnishings and footwear, all offered at discounts of up to 70 percent.
Wrapping Up
The opening of a Nordstrom Rack in Omaha demonstrates the company’s dedication to broadening its footprint and delivering an improved shopping experience to a broader customer base. This expansion aligns with its objectives and emphasizes its commitment to contributing positively to the communities it serves.
The Zacks Rank #3 (Hold) stock has gained 29.1% in the past three months compared with the industry’s growth of 21%.
Three Solid Picks
A few better-ranked stocks are Abercrombie & Fitch Co. ANF, Deckers Outdoor Corporation DECK and American Eagle Outfitters Inc. AEO.
Abercrombie operates as a specialty retailer of premium, high-quality casual apparel. It currently sports a Zacks Rank #1 (Strong Buy). The company recorded an EPS surprise of 60.5% in the last reported quarter.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Abercrombie’s current fiscal-year sales suggests growth of 13.3% from the year-ago reported number. ANF has a trailing four-quarter earnings surprise of 713%, on average.
Deckers is a leading designer, producer and brand manager of innovative, niche footwear and accessories developed for outdoor sports and other lifestyle-related activities. It flaunts a Zacks Rank #1 at present.
The Zacks Consensus Estimate for Deckers’ current fiscal-year sales and earnings suggests growth of 11.7% and 21.3%, respectively, from the year-ago reported numbers. DECK has a trailing four-quarter earnings surprise of 26.3%, on average.
American Eagle Outfitters is a specialty retailer of casual apparel, accessories and footwear for men and women. It currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for American Eagle Outfitters’ current fiscal-year earnings and sales indicates growth of 39.2% and 4%, respectively, from the previous year’s reported numbers. AEO has a trailing four-quarter average earnings surprise of 23%.
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Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report
American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report
Nordstrom, Inc. (JWN) : Free Stock Analysis Report
