Nordstrom Plans New Rack Store - Analyst Blog
February 25 2013 - 4:40AM
Zacks
Seattle-based Nordstrom Inc. (JWN) has laid
down plans to open another Nordstrom Rack store at the Oakway
Center in Eugene, Ore. by fall of 2013.
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. (BBBY), Gap Inc.’s (GPS) 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 clearance store.
Nordstrom currently maintains a Zacks Rank #3 (Hold). The other
stock that is performing well in the retail-apparel/shoe sector
include Citi Trends Inc. (CTRN), which carries a
Zacks Rank #1 (Strong Buy).
BED BATH&BEYOND (BBBY): Free Stock Analysis Report
CITI TRENDS INC (CTRN): Free Stock Analysis Report
GAP INC (GPS): Free Stock Analysis Report
NORDSTROM INC (JWN): Free Stock Analysis Report
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