Going ahead with its store expansion strategy,
) announced its plans to open two Nordstrom Rack stores in Tulsa,
Okla. and Columbus, Ohio.
Located at Woodland Plaza in Tulsa, the 33,330 square foot
Nordstrom Rack store is scheduled to open by spring 2014.
Situated just across the street from Woodland Hills Mall, the
Woodland Plaza houses top retail brands including Old Navy by
), Famous Footwear and
Barnes & Noble Inc.
). The new Rack store will replace the previous location of
Bed Bath & Beyond Inc.
) in the shopping mall operated by Heitman.
Alongside, the company inaugurated its first Rack store in
Oklahoma on Sep 12, 2013, at Belle Isle Station in Oklahoma City.
The Belle Isle Station is also operated by Heitman.
The second Nordstrom Rack store is located at Sun Center in
Columbus, situated at the cross roads of West Dublin Granville
Road and Sawmill Road. It will likely open doors in spring 2014.
The Rack store coming up in the property of Schottenstein
Property Group will mark the company's second Rack location in
Columbus, following the recently opened store at Easton Market.
Apart from this, the company already operates full-line Nordstrom
store at Easton Town Center in Columbus.
Enclosing a floor area of 37,890 square feet, the new Rack store
at Sun Center will occupy the space previously held by Filene's
Basement. Additionally, the company's new Rack store is set to
share business space with popular retailers, including
Whole Foods Market Inc.
), Value City Furniture, Bed Bath & Beyond, Babies"R"Us and
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 23, 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 12 more Rack
stores during the remainder of 2013.
Seattle-based Nordstrom currently carries a Zacks Rank #3
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