After doing the rounds in Canada, Nordstrom Inc. (JWN Quick QuoteJWN - Free Report) seems to be back to its Rack store expansion in the U.S. Evidently, the company announced plans to introduce a Nordstrom Rack in Washington, in Kirkland.

Spanning over 35,000 square feet, the new Rack store is slated to open doors in The Village at Totem Lake in fall 2017. The store will be housed along Interstate 405, while it will also be accessible through NE 124th Street – which is a major east-west thoroughfare.

Notably, this store marks the company’s seventh Rack store in Western Washington. Also, it will join Whole Foods Market, Inc. , Ross Stores Inc. (ROST Quick QuoteROST - Free Report) , Trader Joe's several fashion retailers and renowned restaurants among others. Prior to this, Nordstrom operated Rack stores in Downtown Seattle, Bellevue Square, Northgate, Alderwood, Southcenter and Tacoma Mall in Western Washington.

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.

Nordstrom currently operates 332 outlets across 39 states. Its portfolio includes 120 full-line stores across the U.S., Puerto Rico and Canada, 2 Jeffrey boutiques, 204 Nordstrom Racks and 1 clearance store.

We believe that this Zacks Rank #2 (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.

Another favorably ranked stock in the same industry is Urban Outfitters Inc. (URBN Quick QuoteURBN - Free Report) , with a Zacks Rank #1 (Strong Buy).

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