Nordstrom, Inc. (JWN - Free Report) recently announced the relocation of one of its full-line store from Westside Pavilion to the Westfield Century City in Los Angeles, CA.
Additionally, the company launched Nordstrom Local in the city, which is a modern retailing concept store that does not stock merchandise. This latest concept is quite different from the traditional retail approach and is a neighborhood store, where the company’s services are easily available in a centralized location.
The opening celebrations of the new full-line store at the Westfield Century City will continue all through the month, with ‘Nordstrom x Who What Wear Style in The City’ and ‘Nordstrom Beauty x L.A.’ Also, guests including various celebrity makeup artists and beauty experts are invited to make in-store appearances.
Sprawling over 154,000 square-foot area, the Westfield Century City store is likely to offer unique and exclusive brands’ merchandise. This includes two shops organized by the company’s vice president of creative projects – the fifth Nordstrom x NIKE (NKE - Free Report) sneaker boutique, a women's-only lifestyle model, and SPACE, a boutique housing latest designers such as Roksanda, Acne and Marques'Almeida.
Apart from these, this three-level store is likely to accommodate the first West Coast MAC Makeup Studio with licensed professionals, Bar Verde — a seasonally-focused restaurant and bar; along with ‘Style Bar’ — a drop-in place to meet the Personal Stylists. Additionally, the store will feature ‘Nordstrom to You’ — a mobile personal stylist service — coupled with ‘Buy Online & Pick-Up In-Store’ and ‘Reserve & Try In-Store’ capabilities, among others.
The latest store offers a great collection of popular brands like J. Crew, Topshop, Madewell, Good American, Alice + Olivia, Alexander Wang and many others. Notably, the store houses three designer handbag boutiques including Loewe, Christian Louboutin and Givenchy, along with accessories and handbags from Pop & Suki, Rebecca Minkoff, Gentle Monster and Gucci. It also features a Beauty department and a Beauty Concierge.
Simultaneously, management unveiled plans to introduce the tenth Nordstrom Rack in Los Angeles at the FIGat7th shopping mall on Oct 26. 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 as well as its online store, Nordstrom.com.
Meanwhile, Nordstrom remains well on track with store-expansion efforts amid a challenging retail landscape. The opening of new stores is not only expected to attract customers but also boost the company’s top line via synergies across other channels. In fact, management envisions a $1 billion sales opportunity from its expansion in Canada by 2020, including six planned full-line stores and 15 Rack stores. Also, it is scheduled to inaugurate full-line store relocation in October, at University Towne Center in La Jolla.
Currently, the company operates 357 outlets across 40 states. Its portfolio includes 122 full-line stores across the United States, Puerto Rico and Canada, two Jeffrey boutiques, 224 Nordstrom Racks and two clearance stores.
Therefore, we believe Nordstrom is likely to offer seamless shopping experience to its customers with diverse brands and products. A look at this Zacks Rank #3 (Hold) company’s share price reveals that it has gained 1.8% in the last six months, as against the industry’s decline of 6.9%.
Two Retail Stocks Hogging the Limelight
Some better-ranked stocks from the same industry include Zumiez Inc. and Abercrombie & Fitch Co. (ANF - Free Report) sporting Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Zumiez, with a long-term earnings growth rate of 18%, has pulled off average positive earnings surprise of 27.1% in the trailing four quarters.
Abercrombie, with a long-term earnings growth rate of 14%, has delivered positive earnings surprise of 52.9% in the last quarter.
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