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Nordstrom Continues Expansion with Two New Rack Stores

Nordstrom, Inc.JWN is well on track with its store expansion in a bid to improve customer experience, along with enhancing its overall performance. In sync with this strategy, the company also plans to introduce two new Rack stores this fall. One of these stores will open doors at Harlem Irving Plaza in Norridge, IL, marking Nordstrom's 16th Rack store in Chicagoland.

The store sprawling over 33,000 square feet at Harlem Irving Plaza will be located approximately 14 miles from downtown Chicago at Harlem Avenue and Irving Park Road.

The new store will share space with Carson Pirie Scott, Kohl's Corporation KSS , Target Corporation TGT , Best Buy Co., Inc. BBY , Victoria's Secret, Bath & Body Works, New York & Company, Inc., among others. Nordstrom currently runs four full-line outlets in the greater Chicago area, including the downtown flagship outlet on Michigan Avenue.

Prior to the opening of the Harlem Irving Plaza store, the company had announced plans of opening stores at Kildeer, IL and Schererville, IN, which will open doors this spring. Nordstrom also plans to open a store in Vernon Hills, IL in fall 2018.

The other 27,000-square-feet Rack store, which the company recently announced, will be coming up at FIGat7th in Downtown Los Angeles, CA. The new store, which will be Nordstrom's 12th Rack store in the Los Angeles area, will join Victoria's Secret, Target, H&M, MAC, and an award-winning food hall among others. The new store will be located somewhere in the heart of Downtown Los Angeles at 7th & Figueroa Street.

FIGat7th, which is an open-air shopping mall, is currently owned and managed by Brookfield Property Partners L.P.

Nordstrom, which presently operates eight full-line outlets in the Los Angeles area, has been catering to customers since 1978, when it first opened doors at South Coast Plaza.

Given that Nordstrom Rack is the off-price retail segment of the company, it gives fashion-savvy customers to choose from a wide range of on-trend apparel, footwear and other accessories at discounted prices. These Racks usually stock items from the main Nordstrom stores as well as its online store, Nordstrom.com. Additionally, these stores stack products from other major brands sold by the company.

Nordstrom currently operates 349 outlets across 40 states. Its portfolio boasts 123 full-line stores across the U.S., Puerto Rico and Canada, two Jeffrey boutiques, 215 Nordstrom Racks and two clearance stores.

We note that this Zacks Rank #3 (Hold) stock has increased almost 3.6% in the past six months, apparently outperforming the Zacks Categorized Retail - Apparel/Shoe industry's decline of 9%.

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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.


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

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