Nordstrom, Inc. (JWN - Free Report) is consistently focusing on the store-expansion strategy as part of its efforts to grow market share. Also, the company has been aggressively working on the expansion of sizing options across different brands at its stores and online to maximize customers’ shopping experience. In this regard, management recently announced the expansion of extended sizing for 100 brands across 30 stores. This will include various merchandising categories such as dresses, denim, swimwear, activewear and lingerie, producing sizes of more zeros, 2's, 14's, 16's and 18's.
In October 2017, the company launched this sizing initiative at Nordstrom Century City in Los Angeles for denim brands including Topshop, Rag & Bone and Madewell. Further, it launched this initiative online with 40 brands having extended sizes in the 2017 holiday period. Nordstrom intends to expand this strategy across 15 more outlets for 60 brands by spring 2018.
This latest initiative include brands like NIKE, Inc. (NKE - Free Report) , adidas AG (ADDYY - Free Report) , Beyond Yoga, MOTHER, Rebecca Taylor and more, alongside Nordstrom private-label brands such as Halogen, Zella and Nordstrom Signature. In fact, the company is persistently working on fulfilling the gaps in sizes to integrate all sizes together, which will comprise the range of sizes from the European brand partners as well. Management also plans to extend this sizing initiative to the Anniversary Sale, beginning Jul 20.
Notably, Nordstrom is a retailer that always comes up with innovative ideas to offer a seamless shopping experience. Last year, the company launched Nordstrom Local — its first modern retailing concept store — that does not stock merchandise. This is a neighborhood store where the company’s services are easily available in a centralized location and is different from the traditional retail concept.
Furthermore, the company is keeping up with the evolving retail industry by aggressively expanding its footprint in the digital arena. Nordstrom purchased two major retail technology entities — BevyUp and MessageYes — to cater to customers who prefer online shopping. While BevyUp is a leading digital selling device, MessageYes is an iconic platform for conversational trading. These investments are expected to address consumers’ personalized needs in a digitally-connected world and accelerate business growth.
Nordstrom is also on track to integrate its digital and physical assets to create innovative and multiple ways for customers to shop. Additionally, it is focused on advancing in the technology space by boosting e-commerce and digital networks apart from improving the company’s supply chain and marketing efforts.
These endeavors have aided this Zacks Rank #2 (Buy) company to outperform the industry and the broader sector in the past six months. While the stock has rallied 22%, the industry and the Retail-Wholesale sector gained 6.9% and 11.4%, respectively.
Investors may also consider The Buckle, Inc. (BKE - Free Report) , which has pulled off an average positive earnings surprise of 9.1% in the trailing four quarters. Also, the company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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