) announced plans to open 2 new Nordstrom Rack stores, one at the
Shoppes at University Town Center in Sarasota, Fla. and the other
at Shelbyville Road Plaza in Louisville, KY by fall 2013.
Nordstrom's new Rack store in Fla. at the Shoppes at University
Town Center will add to the company's 9 full-line and 8 Rack
stores operating in the state. The new Rack store will enclose
about 35,000 square feet space in the centrally located mall
between the intersection of I-75 and University Parkway and
across the street from the future Mall at University Town
Occupying the space formerly held by Circuit City, the new
Rack store will join a mix of vibrant retailers in the mall,
Ross Stores Inc.
Pier 1 Imports Inc.
Apart from the current announcement, Nordstrom has 2 more Rack
store openings lined up in Jacksonville and Naples, Florida this
fall season. Additionally, the company is slated to open a
full-line store in Jacksonville next year.
Nordstrom announced its entry in Kentucky with its first Rack
store in the Shelbyville Road Plaza. This store will cater to the
company's Kentucky-based customers who frequent Cincinnati and
Indianapolis for their needs. The new Rack store will occupy
33,000 square feet space, previously held by Circuit City in the
mall located off the I-264. Other retailers housed in the mall
include Trader Joe's, Ross, and
) Factory Store.
Nordstrom's Rack stores generally offer merchandise from
Nordstrom stores and Nordstrom.com at a significantly reduced
price to customers. Products at these stores are sold with
discounts of roughly 50% to 60% from the original Nordstrom tags.
Nordstrom Rack also carries a vast assortment of branded apparel,
accessories and shoes that are available at Nordstrom stores, and
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. As of Mar 21, 2013, Nordstrom operated 242
stores, including 117 Nordstrom full-line stores, 121 Nordstrom
Racks, 2 Jeffrey boutiques, 1 treasure&bond store and 1
clearance store. Nordstrom currently maintains a Zacks Rank #4
NORDSTROM INC (JWN): Free Stock Analysis
NIKE INC-B (NKE): Free Stock Analysis Report
PIER 1 IMPORTS (PIR): Free Stock Analysis
ROSS STORES (ROST): Free Stock Analysis
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