Nordstrom Store Expansion on a Roll - Analyst Blog
April 09 2014 - 6:00PM
Zacks
With its store expansion in full swing, Nordstrom
Inc. (JWN) announced its latest plans to introduce a
Nordstrom Rack store in Bakersfield, CA.
This new rack store, spread over roughly 35,000 square-feet and
slated to open its doors in spring 2015, will mark the debut for
the company in Bakersfield. The project, developed by Castle &
Cooke, Inc., will be an integral part of the popular hub in the
region, titled ‘The Shops at River Walk.’
The Shops at River Walk, is situated left of Calloway Drive on
Stockdale Highway and south of the Westside Parkway. The mixed-use
property, which houses the store, presents an impressive blend of
specialty retail, dining as well as fashion choices.
The first development phase of The Shops at River Walk harbored
several stores like Target Corp. (TGT) and Aveda,
alongside restaurants like California Pizza
Kitchen (CPK), BJ's Restaurant &
Brewery (BJRI), P.F. Chang’s and Eureka! Burger. The
second development phase will see the opening of Nordstrom Rack
along with T.J.Maxx, Sprouts Farmers Market and many other local
and national retailers, thus enticing more shoppers with various
shopping options.
Although Nordstrom was operational in California, its first
appearance in Bakersfield will add to the convenience of the
customers. Moreover, by catering to customers through a local
store, the company will enhance their shopping experience by
offering them the same brands at discounted prices.
Nordstrom Rack, the off-price retail segment of the company, caters
to stylish and trend-savvy customers. It stocks a broad range of
fashionable apparel, footwear and other accessories at discounted
prices. The Rack stores usually keep items from the main Nordstrom
stores and the online website, www.Nordstrom.com. Alongside, these
stores stack products bought from other big brands as well.
Nordstrom’s latest store openings signify its commitment to
strengthen the retail network to drive 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 today, the
company operates 267 outlets across 36 states, with 147 Nordstrom
Racks, 117 full-line stores, 2 Jeffrey boutiques and 1 clearance
outlet.
Currently, this Seattle-based company carries a Zacks Rank #4
(Sell). However, other better-ranked stocks in the same sector
include American Apparel, Inc. (APP) and
Foot Locker, Inc. (FL), both holding a Zacks Rank
#2 (Buy).
AMER APPAREL (APP): Free Stock Analysis Report
BJ'S RESTAURANT (BJRI): Free Stock Analysis Report
CHESAPEAKE UTIL (CPK): Free Stock Analysis Report
FOOT LOCKER INC (FL): Free Stock Analysis Report
NORDSTROM INC (JWN): Free Stock Analysis Report
TARGET CORP (TGT): Free Stock Analysis Report
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