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Nordstrom's Alberta Rack Store Furthers Canadian Expansion
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Taking its Canadian expansion forward, the Seattle-based Nordstrom Inc. (JWN - Free Report) is on track to grow its Rack store base in the country. Evidently, the company announced plans to introduce a Nordstrom Rack in Canada, at Edmonton, Alberta.
Spanning over 35,000 square feet, the new Rack store is slated to open doors at South Edmonton Common in fall 2018. The store will be housed close to the crossroads of Highway 216 and Highway 2, thus finding place in one of the busiest traffic spaces of Edmonton. Also, the store will join several other retailers at South Edmonton Common, including Gap Inc.’s (GPS - Free Report) Banana Republic and Gap Factory Outlets, Marshall's, H&M and Ikea.
Nordstrom, which has been eyeing Canada for a while now, had first announced plans to expand in the country in 2012. To date, this fashion specialty retailer has introduced three full-line stores − at CF Chinook Centre in Calgary on Sep 19, 2014, CF Rideau Centre in Ottawa on Mar 6, 2015, and CF Pacific Centre in Vancouver on Sep 18, 2015. Going forward, the company intends to introduce three more full-line stores in the Toronto region, including CF Toronto Eaton Centre on Sep 16, 2016, Yorkdale Shopping Centre on Oct 21, 2016 and CF Sherway Gardens in fall 2017.
Coming back to Nordstrom’s Rack store expansion in Canada, earlier this month, the company announced plans to open a Rack store each in Alberta and Ontario. These outlets are scheduled to open doors in spring 2018.
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. Alongside, these stores stack products from other major brands sold by the company.
We believe that this Zacks Rank #1 (Strong Buy) company, with its solid brand image, amendments to the operating model for cost savings, and continuous store expansion, is well positioned to deliver on its long-term goals.
Other favorably ranked stocks in the same industry are The Children's Place, Inc. (PLCE - Free Report) , sporting a Zacks Rank #1 and American Eagle Outfitters, Inc. (AEO - Free Report) , with a Zacks Rank #2 (Buy).
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Nordstrom's Alberta Rack Store Furthers Canadian Expansion
Taking its Canadian expansion forward, the Seattle-based Nordstrom Inc. (JWN - Free Report) is on track to grow its Rack store base in the country. Evidently, the company announced plans to introduce a Nordstrom Rack in Canada, at Edmonton, Alberta.
Spanning over 35,000 square feet, the new Rack store is slated to open doors at South Edmonton Common in fall 2018. The store will be housed close to the crossroads of Highway 216 and Highway 2, thus finding place in one of the busiest traffic spaces of Edmonton. Also, the store will join several other retailers at South Edmonton Common, including Gap Inc.’s (GPS - Free Report) Banana Republic and Gap Factory Outlets, Marshall's, H&M and Ikea.
Nordstrom, which has been eyeing Canada for a while now, had first announced plans to expand in the country in 2012. To date, this fashion specialty retailer has introduced three full-line stores − at CF Chinook Centre in Calgary on Sep 19, 2014, CF Rideau Centre in Ottawa on Mar 6, 2015, and CF Pacific Centre in Vancouver on Sep 18, 2015. Going forward, the company intends to introduce three more full-line stores in the Toronto region, including CF Toronto Eaton Centre on Sep 16, 2016, Yorkdale Shopping Centre on Oct 21, 2016 and CF Sherway Gardens in fall 2017.
Coming back to Nordstrom’s Rack store expansion in Canada, earlier this month, the company announced plans to open a Rack store each in Alberta and Ontario. These outlets are scheduled to open doors in spring 2018.
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. Alongside, these stores stack products from other major brands sold by the company.
We believe that this Zacks Rank #1 (Strong Buy) company, with its solid brand image, amendments to the operating model for cost savings, and continuous store expansion, is well positioned to deliver on its long-term goals.
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Other favorably ranked stocks in the same industry are The Children's Place, Inc. (PLCE - Free Report) , sporting a Zacks Rank #1 and American Eagle Outfitters, Inc. (AEO - Free Report) , with a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>