Nordstrom, Inc. ( JWN Quick Quote JWN - Free Report) has unveiled its plan to open a Nordstrom Rack location in Mason, OH, further expanding its footprint and reaching out to a broader customer base. This strategy underscores the company’s commitment to offering great brands at great prices and exceptional customer service in even more accessible locations. The upcoming Nordstrom Rack in Mason will occupy an impressive 30,000 square feet of retail space and will be nestled within the Deerfield Towne Center, renowned for its carefully curated collection of specialty retail outlets, upscale grocery stores and dining establishments. Nordstrom's expansion in Ohio doesn't stop at Mason; the company plans to open another location in Macedonia, OH, in the spring of 2024. With these additions, Nordstrom will boast eight Nordstrom Rack stores and three Nordstrom stores across the state, significantly increasing its presence and accessibility to Ohio residents. The Mason location is slated to open its doors to eager shoppers in the fall of 2024. Also, the company on Sep 12 unveiled its plan to open a Nordstrom Rack location in San Diego, CA. This new Rack location is set to occupy 26,000 square feet within Clairemont Town Square, a well-known shopping center in San Diego. With the addition of this location and 10 other recently announced store openings, Nordstrom is set to operate 68 Nordstrom Rack stores, 22 Nordstrom stores, 5 Nordstrom Locals, and one asos | Nordstrom in California. The San Diego store is scheduled to open in the fall of 2024.
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Some notable neighbors in Deerfield Towne Center are Whole Foods, Dick's Sporting Goods, Ulta Beauty, White House Black Market, and Panera Bread. The shopping center is owned and managed by RPT Realty.
Nordstrom Rack plays a pivotal role in the company's "Closer to You" strategy, which focuses on enhancing customer shopping experience across its physical stores and digital platforms. It offers an array of fashionable products, including apparel, accessories, beauty items, home goods and shoes, at discounts of up to 70 percent. Additionally, customers can benefit from core services like online order pickup for Nordstrom.com and NordstromRack.com, easy returns, and select in-store alterations. Notably, Nordstrom Rack attracts significant new customers for Nordstrom, contributing to the company's growth. Wrapping Up
Nordstrom's decision to open a Nordstrom Rack in Mason, OH, reflects its commitment to expanding its reach and providing an enhanced shopping experience to a wider audience. This expansion aligns with the company's strategic goals and underscores its dedication to giving back to the communities it serves. Shares of this Zacks Rank #3 (Hold) company have lost 11.6% in the past six months compared with the
industry’s decline of 5.3%. Three Solid Picks
A few better-ranked stocks in the same space are
Urban Outfitters, Inc. ( URBN Quick Quote URBN - Free Report) , Abercrombie & Fitch Co. ( ANF Quick Quote ANF - Free Report) and American Eagle Outfitters Inc. ( AEO Quick Quote AEO - Free Report) . Urban Outfitters, which specializes in the retail and wholesale of general consumer products, sports a Zacks Rank #1 (Strong Buy) at present. You can see . the complete list of today’s Zacks #1 Rank stocks here The Zacks Consensus Estimate for Urban Outfitters’ current fiscal-year earnings and sales indicates growth of 84.6% and 9% from the year-ago period’s reported figures. URBN has a trailing four-quarter average earnings surprise of 19.2%. Abercrombie & Fitch is a specialty retailer of premium, high-quality casual apparel. The company currently flaunts a Zacks Rank #1. ANF delivered a significant earnings surprise in the last reported quarter. The Zacks Consensus Estimate for Abercrombie & Fitch’s current fiscal-year sales implies growth of 10.4% from the previous year’s reported number. ANF has a trailing four-quarter average earnings surprise of 724.8%. American Eagle Outfitters is a specialty retailer of casual apparel, accessories and footwear. It sports a Zacks Rank #1 at present. The Zacks Consensus Estimate for American Eagle Outfitters’ current fiscal-year earnings and sales indicates growth of 29.9% and 1.5% from the year-ago period’s reported figures. AEO has a trailing four-quarter average earnings surprise of 43.2%.