Nordstrom (JWN) To Open Relocated Kansas City Store In 2021
Zacks Investment Research | Feb 04, 2018 10:00PM ET
Nordstrom Inc. (NYSE:JWN) continues with its store expansion and relocation plans in order to enhance shopping experience. The company declared that it is planning to relocate the Oak Park Mall store in Overland Park, Kansas, to Country Club Plaza in Kansas City, Missouri. It expects to open this new 116,000 square-foot store by 2021.
The addition of this new Nordstrom Store in Kansas City will make shopping with Nordstrom more convenient for its customers. Also, it enhances the Country Club Plaza owners’ objective to create a modern and unique experience for their customers.
In fact, Kansas City has been an excellent market for Nordstrom. The company has been successfully serving its customers at Oak Park Mall for the last 20 years, which marked its first store in Kansas. While Nordstrom aims to expand its business in Kansas City, it will continue serving customers at its current location in Oak Park Mall until it relocates.
Apart from the Oak Park Mall store, currently Nordstrom operates 18 Nordstrom stores and 44 Nordstrom Rack stores in the Midwest.
At Kansas City, the company plans to invest in both of its physical and digital capabilities in order to satisfy customer preferences with more efficiency. This will be a part of Nordstrom’s progressive customer-based strategy and strengthening capabilities, particularly digital growth.
Meanwhile, the company has been gaining market traction owing to its heavy investments in digital growth. In the third quarter of fiscal 2017, it delivered online sales growth of 14% at Nordstrom.com and a 26% increase at Nordstromrack.com/HauteLook.
The news did not have a major impact on the company’s share price. However, this Zacks Rank #2 (Buy) stock has gained 21.9% in the last three months, outperforming Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.