The store expansion strategy of
) continues as it announced a new Nordstrom Rack location in
California. The company unveiled its plans to open a new Rack
store at the Village at Dublin shopping center in Dublin.
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Dublin, along the East Bay, is an ideal location for the new Rack
store as the company has been enjoying excellent customer loyalty
across this belt. Other Nordstrom stores along the East Bay and
close to the latest Rack store include a full-line store at
Stoneridge Mall in Pleasanton and Rack stores in San Leandro and
Fremont. The newest addition to the company's Rack stores on this
belt was inaugurated on Sep 12 at the Sunvalley Shopping Center
in Pleasant Hill.
Occupying about 35,000 square feet floor area in the 152,500
square feet shopping center, the company's new Rack store shares
business space with popular retailers and restaurant chains,
Whole Foods Market Inc.
). The store is scheduled to open by fall 2015.
Located at the corner of Dublin Boulevard and Hacienda Drive in
Dublin, Village at Dublin is a property of
Regency Centers Corporation
). The shopping center is projected to have a high foot-fall
catering to the inhabitants of Dublin and the neighboring
Tri-Valley area. Together, these areas feature a daytime
population of 112,778 with an average household income of over
Nordstrom's Rack stores generally offer merchandise from
Nordstrom stores, Nordstrom.com and special collections from many
of the renowned brands offered at Nordstrom at a significantly
reduced price to customers. A vast assortment of branded apparel,
accessories and shoes that are available at Nordstrom stores 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. Nordstrom's focus on store expansion is evident
from the series of Rack store openings since the beginning of
fiscal 2013. As of Oct 15, 2013, Nordstrom operated 257 stores,
including 117 Nordstrom full-line stores, 137 Nordstrom Racks, 2
Jeffrey boutiques and 1 clearance outlet.
Nordstrom targets to double the number of Rack stores to more
than 230 by 2016, with roughly 24 openings in 2013 and more than
30 in 2014. Currently, the company plans to open 13 more Rack
stores during the remainder of 2013.
Seattle-based Nordstrom currently carries a Zacks Rank #3 (Hold).
Another stock worth consideration among apparel-shoe retailers is
Citi Trends Inc.
), which has a Zacks Rank #1 (Strong Buy).