Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

In keeping with its store expansion strategy, Nordstrom Inc. (JWN - Analyst Report) plans to bring up a new Nordstrom rack store in Chestnut Street, Philadelphia. The 39,000 square-feet store slated to open doors by the fall of 2014 will mark the company’s first store in Philadelphia.

Apart from this, the company already operates full-line Nordstrom stores and Rack stores in neighboring Cherry Hill, N.J., and King of Prussia, Pa. and 1 Rack store in Willow Grove, Pa.

Occupying the first three floors of the eight storied building owned by JEMB Realty Corporation, the new Rack store will replace the space previously held by Daffy’s. This completely renovated location was first occupied by department store Bonwit Teller.

Nordstrom’s Rack stores generally offer merchandise from Nordstrom stores, Nordstrom.com and special collections from many of the renowned brands offered at Nordstrom at a significantly reduced price to customers. A vast assortment of branded apparel, accessories and shoes that are available at Nordstrom stores are offered to customers at a discount of about 30%–70%.

Nordstrom’s latest store openings signify the company’s commitment to strengthen its network with the aim of driving top-line growth. Nordstrom’s focus on store expansion is evident from the series of Rack store openings since the beginning of fiscal 2013.  

Nordstrom targets to double the number of Rack stores to more than 230 by 2016, with roughly 24 openings in 2013 and more than 30 in 2014. Currently, the company plans to open 14 new Rack stores and relocate 2 Rack stores and 1 full-line store during the rest of 2013.

As of Oct 1, 2013, Nordstrom operated 252 stores, including 117 Nordstrom full-line stores, 132 Nordstrom Racks, 2 Jeffrey boutiques and 1 clearance outlet.

Seattle-based Nordstrom currently carries a Zacks Rank #3 (Hold). Other stocks worth considering in the apparel-shoe space are Citi Trends Inc. (CTRN - Analyst Report), DSW Inc. (DSW - Snapshot Report) and ANN Inc. (ANN - Snapshot Report). Of these, Citi Trends has a Zacks Rank #1 (Strong Buy), while DSW and ANN carry a Zacks Rank #2 (Buy).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
LAKE SHORE G LSG 0.77 +6.05%
QUESTCOR PHA QCOR 80.07 +2.47%
VIPSHOP HOLD VIPS 156.35 +1.82%
ENLINK MIDST ENLC 36.29 +1.60%
BNC BANCORP BNCN 17.33 +1.58%