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Nordstrom to Expand in Washington with New Rack Store
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In keeping with its domestic store growth endeavors, Nordstrom Inc. (JWN - Free Report) announced plans to introduce a Nordstrom Rack in Bellevue, WA. Notably, this will mark Nordstrom’s eighth Rack store in Western Washington. Additionally, the company already operates six full-line stores in Downtown Seattle, Bellevue Square, Northgate, Alderwood, Southcenter and Tacoma Mall.
Spread over 43,000 square feet, the new Rack store is slated to open doors at Lincoln Square Expansion in fall 2017. The new Rack store will be housed in the 1.5 million sq. ft. expansion of The Bellevue Collection, which comprises Bellevue Square, Bellevue Place and Lincoln Square. The expansion at Lincoln Square will feature office, retail, dining as well as entertainment spaces. Moreover, it will include the W hotel with 244 rooms and 218 luxury high-rise rental residences.
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 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, 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.
Further, Nordstrom has an impressive stock price record as its shares have surged 29.9% in the last six months, outperforming the Zacks categorized Retail – Apparel/Shoe industry’s growth of 12.2% in the same period.
Children's Place has an average positive earnings surprise of 36.3% in the trailing four quarters. The stock, with a long-term growth rate of 10.3%, has seen positive estimate revisions for the current quarter in the last seven days.
Tillys, with long-term earnings per share growth rate of 15.5%, has an average positive earnings surprise of 97.9% in the trailing four quarters. Moreover, the company’s positive estimate revisions for the current fiscal in the past 30 days bode well.
Zumiez has an average positive earnings surprise of 30.9% in the trailing four quarters. The stock, with a long-term growth rate of 15%, has seen positive estimate revisions for the current fiscal in the last seven days.
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Nordstrom to Expand in Washington with New Rack Store
In keeping with its domestic store growth endeavors, Nordstrom Inc. (JWN - Free Report) announced plans to introduce a Nordstrom Rack in Bellevue, WA. Notably, this will mark Nordstrom’s eighth Rack store in Western Washington. Additionally, the company already operates six full-line stores in Downtown Seattle, Bellevue Square, Northgate, Alderwood, Southcenter and Tacoma Mall.
Spread over 43,000 square feet, the new Rack store is slated to open doors at Lincoln Square Expansion in fall 2017. The new Rack store will be housed in the 1.5 million sq. ft. expansion of The Bellevue Collection, which comprises Bellevue Square, Bellevue Place and Lincoln Square. The expansion at Lincoln Square will feature office, retail, dining as well as entertainment spaces. Moreover, it will include the W hotel with 244 rooms and 218 luxury high-rise rental residences.
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 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, 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.
Further, Nordstrom has an impressive stock price record as its shares have surged 29.9% in the last six months, outperforming the Zacks categorized Retail – Apparel/Shoe industry’s growth of 12.2% in the same period.
Zacks Rank & Key Picks
Nordstrom currently has a Zacks Rank #2 (Buy). Investors can also count on other well-ranked stocks like The Children's Place, Inc. (PLCE - Free Report) , Tillys Inc. (TLYS - Free Report) , and Zumiez Inc. (ZUMZ - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Children's Place has an average positive earnings surprise of 36.3% in the trailing four quarters. The stock, with a long-term growth rate of 10.3%, has seen positive estimate revisions for the current quarter in the last seven days.
Tillys, with long-term earnings per share growth rate of 15.5%, has an average positive earnings surprise of 97.9% in the trailing four quarters. Moreover, the company’s positive estimate revisions for the current fiscal in the past 30 days bode well.
Zumiez has an average positive earnings surprise of 30.9% in the trailing four quarters. The stock, with a long-term growth rate of 15%, has seen positive estimate revisions for the current fiscal in the last seven days.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>