Nordstrom, Inc. (JWN - Free Report) relocated its store at Westfield UTC, which is based on the latest retailing concept. The store was previously located at the other end of the same shopping avenue, and was inaugurated in 1984.
The new outlet houses the modern interior and exterior design model, including a single-surface floor all through to offer a seamless shopping experience. The store also accommodates, Bazille, a full-service restaurant and bar that serves bistro-cuisine along with designer boutiques and beauty-related services with a Beauty Concierge.
Sprawling over 145,000 square-foot area, this latest Westfield UTC store is likely to offer new and exclusive brands. These new brands include eight designer boutiques that accommodate apparel as well as handbags from Chloe, Gucci, Saint Laurent and Valentino. Also, new additions in the beauty space cover brands like Charlotte Tilbury, Tom Ford, Hourglass, Le Labo, Byredo and Atelier Cologne, among others. Additionally, there will be a boutique called SPACE with designers such as Comme des Garçons, Simone Rocha, Molly Goddard, Jacquemus and Y/Project.
Furthermore, the relocated store stacks a wide range of luxury and designer brands for men, women and children. These include designer fashion from Alexander McQueen, Balenciaga, Isabel Marant as well as shoes by Gucci and Valentino. It also houses apparel from A.L.C., Alice + Olivia, Rag & Bone, Self-Portrait, Veronica Beard, Frame Denim, Rebecca Taylor, and more.
Additionally, the latest store will offer services such as Buy Online & Pick-Up In-Store, Reserve & Try In-Store, Curbside Pickup, Style Boards, and Same-Day Delivery. Nordstrom will cater to its customers with Personal and Beauty Stylists, alterations, tailoring, refreshment, and other related services as well.
The company remains committed to store-expansion efforts amid a tough retail landscape. In fact, it runs in coherence with the evolving retail industry that is focused on offering maximum choices to customers to enhance their shopping experience. Going forward, Nordstrom envisions a $1 billion sales opportunity from its expansion in Canada by 2020, including six full-line stores and 15 Rack stores.
Currently, the company operates 360 outlets across 40 states. Its portfolio includes 122 full-line stores across the United States, Puerto Rico and Canada, two Jeffrey boutiques, 227 Nordstrom Racks and two clearance stores.
Though Nordstrom’s growth strategy bodes well, investments toward occupancy, technology, supply chain and marketing are likely to weigh upon its near-term cost and margin performance. While this Zacks Rank #3 (Hold) stock has lost 11.2% year to date, it has fared better than the industry’s decline of 28.1%.
Three Retail Stocks Hogging the Limelight
Better-ranked stocks from the same industry include Zumiez Inc. (ZUMZ - Free Report) , Abercrombie & Fitch Co. (ANF - Free Report) and DSW Inc. (DSW - 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 an 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.
DSW, with a long-term earnings growth rate of 6.3%, has come up with an average positive earnings surprise of 14.3% in the trailing four quarters.
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