Nordstrom Expands Store Base - Analyst Blog

By Zacks Equity Research,

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In consistence with its store expansion strategy, Nordstrom Inc. ( JWN ) plans to open a Nordstrom Rack store in Dayton, Ohio.

The 35,000 square-foot outlet is slated to begin operating by the fall of 2014. The outlet will be part of the dynamic 1.1 million square-foot shopping mall, The Greene Town Center.

The new store will join a host of retailers and restaurant chains such as The Gap Inc. 's ( GPS ) Banana Republic store, Sephora, Forever 21, The Cheesecake Factory Inc. ( CAKE ) and McCormick & Schmick's Seafood Restaurants Inc. The Greene Town Center is a property of Olshan Properties, formerly known as Mall Properties Inc.

Nordstrom made its debut in Ohio in 1997 at Beachwood Place. Currently, it operates 4 stores in the state, out of which 3 are full-line stores. Last fall, Nordstrom opened 1 store each in Columbus and Westland. Further, the Finish Line Inc. 's ( FINL ) peer has planned to open an outlet at Sun Center in Columbus this spring.

Nordstrom Rack, which is the off-price retail segment of the company, caters to stylish and trend-following customers. It stocks a wide array of fashionable apparel, footwear and other accessories at discounted prices. These Rack stores usually keep items from the main Nordstrom stores and the online shopping website, Alongside, the outlets have products from other major brands sold by Nordstrom.

This Seattle-based company's latest store openings reflect the commitment to strengthen its network to boost top-line growth. Its focus on store expansion is evident from the series of Rack store openings since the beginning of fiscal 2013. As of Jan 9, 2014, the company operated 261 outlets across 35 states, consisting of 141 Nordstrom Racks, 117 full-line stores, 2 Jeffrey boutiques and 1 clearance outlet.

Currently, Nordstrom carries a Zacks Rank #3 (Hold).

CHEESECAKE FACT (CAKE): Free Stock Analysis Report

FINISH LINE-CLA (FINL): Free Stock Analysis Report

GAP INC (GPS): Free Stock Analysis Report

NORDSTROM INC (JWN): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Business , Stocks
Referenced Stocks: CAKE , FINL , GPS , JWN

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