) has laid down plans to open another Nordstrom Rack store at the
Oakway Center in Eugene, Ore. by fall of 2013.
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Joining the company's 5 full-line and 4 Rack stores in the state
of Ore., the new Rack store will be located off the Interstate
105, within three miles of the University of Oregon campus. The
company's stores in Oregon include its first Rack store in
Clackamas, which has been serving the public since 1983. Further,
the company has been serving its Eugene customers for more than
15 years now with its Nordstrom Place Two store.
Housed in The Oakway Center, the new Rack store will enclose
about 32,000 square feet space in the property of McKay
Investment Company LLC. The store will occupy the space
previously held by Borders book store. Other stores in the
upscale mixed-use lifestyle center include Trader Joe's,
Bed Bath & Beyond Inc.
) Old Navy, Talbot's, and Pottery Barn.
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% to 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 Feb 22, 2013, Nordstrom operated 240
stores, including 117 Nordstrom full-line stores, 119 Nordstrom
Racks, 2 Jeffrey boutiques, 1 treasure&bond store and 1
Nordstrom currently maintains a Zacks Rank #3 (Hold). The other
stock that is performing well in the retail-apparel/shoe sector
Citi Trends Inc.
), which carries a Zacks Rank #1 (Strong Buy).