After its ventures in Canada, Nordstrom Inc. JWN seems to be back in the U.S. with its Rack store expansion strategy. The company announced plans to introduce a Nordstrom Rack in Lancaster County, PA. Nordstrom currently operates four Racks and two full-line Nordstrom outlets in Pennsylvania.
Spread over 25,000 square feet, the new Rack store is slated to open doors at Shoppes at Belmont in spring 2018. The store will be housed at the southeast corner of U.S. Route 30 and Fruitville Pike. Additionally, it will join Whole Foods Market, Inc. WFM, Target Corp. TGT, Dick's Sporting Goods Inc. DKS, Michaels, and Ulta Beauty.
Being the off-price retail segment of the company, Nordstrom Rack 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 and its online store, Nordstrom.com. Moreover, these stores stack products from other major brands sold by the company.
Nordstrom currently operates 334 outlets across 39 states. Its portfolio includes 121 full-line stores across the U.S., Puerto Rico and Canada, 2 Jeffrey boutiques, 205 Nordstrom Racks and 1 clearance store.
We believe that the company, with its solid brand image, amendments to the operating model for cost savings, and continuous store expansion, is well poised to deliver on its long-term goals. Nordstrom carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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