Nordstrom Inc. (JWN – Free Report) is well on track with its store expansion initiative in a bid to improve customer experience, along with enhancing overall performance. In sync with this strategy, the company plans to introduce a new Rack store in Oregon this fall.
Spread over 28,000 square feet, the new Rack store will be located at Cascade Station in Portland, OR. The mall is situated northeast of downtown Portland, close to the Portland International Airport. The new store will share business space with other renowned retailers in the mall including Marshall’s, DSW Inc. (DSW – Free Report) , HomeGoods, Best Buy Inc. (BBY – Free Report) , Ikea and Target Corp. (TGT – Free Report) .
Notably, this will mark Nordstrom’s fifth Rack store in Portland area, where it operates its first stand-alone Nordstrom Rack in Clackamas since 1983. Additionally, the company operates full-line outlets at downtown Portland and Clackamas Town Center.
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 as well as online store, Nordstrom.com. Further, these stores stack products from other major brands sold by the company.
Nordstrom currently operates 349 outlets across 40 states. Its portfolio includes 123 full-line stores across the U.S., Puerto Rico and Canada, two Jeffrey boutiques, 215 Nordstrom Racks and two clearance stores.
Notably, the company along with 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. Further, we believe Nordstrom’s technological advancements, efforts to enhance supply-chain network and marketing endeavors should further provide a boost to overall growth.
However, the company’s presence in the consumer-driven apparel space, keeps it exposed to the risks of changing tastes, preferences and spending behavior of consumers. Moreover, stiff competition remains a threat to margins.
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