Nordstrom (JWN) Continues To Expand, Opens Store In Arizona
Zacks Investment Research | Nov 15, 2017 10:57PM ET
Nordstrom Inc. (NYSE:JWN) seems to on track with its store-expansion endeavors, besides enhancing its e-commerce activities. The company has announced the inauguration of a Rack store in the Phoenix area situated at SanTan Village in Gilbert, AZ, in fall 2018. Notably, this marks the company’s sixth store in the market.
Sprawling over 25,000 square feet, this store will be located right east of the 202 Freeway, making it convenient for the Southeast Valley community. It will accommodate merchandise in the Women's, Men's, Kids' and Home categories and will be on the corner of Williams Field Road and SanTan Village Parkway.
As Gilbert is one of the fast-growing suburbs in the Phoenix area, we believe Nordstrom will efficiently cater to the needs of this community with enormous brands and related services.
Nordstrom Rack, the off-price retail segment of the company, offers fashion-savvy customers a wide range of on-trend apparel, footwear and other accessories at discounted prices. These Racks usually keep items from the main Nordstrom stores as well as online store, Nordstrom.com. Further, these stores stack products from other major brands sold by the company.
Currently, the company operates 366 outlets across 40 states. Its portfolio includes 122 full-line stores across the United States, Puerto Rico and Canada; two Jeffrey boutiques, 232 Nordstrom Racks and two clearance stores.
Furthermore, Nordstrom’s store-expansion efforts, amid a tough retail landscape, are quite impressive. It is aggressively opening new stores, relocating the existing stores in order to enhance the customers’ shopping experience and expand its market share. Going forward, this fashion specialty retailer is scheduled to open 11 Rack stores this fall as well as one relocation in markets that include Los Angeles, Manhattan and Seattle.
Concurrent to this release, management also declared a quarterly dividend of 37 cents per share. This will be payable on Dec 12, 2017, to shareholders of record as on Nov 27.
A look at this Zacks Rank #4 (Sell) company’s share price also reveals that it has declined 11.8% in the past three months, as against the Zacks Investment Research
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