For Immediate Release
Chicago, IL – September 21, 2012 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Nordstrom Inc. (JWN - Free Report) , Bed Bath & Beyond Inc. (BBBY - Free Report) , DSW Inc. (DSW - Free Report) , Ulta Salon, Cosmetics & Fragrance Inc. (ULTA - Free Report) and Dicks Sporting Goods Inc. (DKS - Free Report) .
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: https://at.zacks.com/?id=5513
Here are highlights from Thursday’s Analyst Blog:
Nordstrom’s Store Expansion Spree
Store openings at Nordstrom Inc. (JWN - Free Report) , a leading Seattle-based fashion specialty retailer, seem to be picking up swifter than before as the company works toward achieving its goal of opening 16 new stores this fiscal year. Yesterday, Nordstrom announced its plans of opening three new Nordstrom Rack stores in Ohio, Michigan and Wisconsin.
Nordstrom’s new Rack store in Ohio will be positioned at the Easton Market in Columbus, with a store space of about 35,000 square feet. The Easton market situated adjacent to Easton Town Center, a leading mall in the region, already houses leading retailers like Bed Bath & Beyond Inc. (BBBY - Free Report) , DSW Inc. (DSW - Free Report) , Old Navy, TJMaxx and Ulta Salon, Cosmetics & Fragrance Inc. (ULTA - Free Report) . The company already operates a full-line store in the Easton Town Center. The company’s Columbus store is scheduled to open to public in fall 2013.
Nordstrom’s second announcement reveals its plan of opening another Nordstrom Rack store at Arborland Center in Ann Arbor, Michigan. The Arborland Center is situated in southeastern Ann Arbor between the University of Michigan and Eastern Michigan University. Spread over an area of 30,000 square feet, Nordstrom’s new Michigan showroom is expected to begin operations in spring 2013. The store will mark the company’s third Rack store in Michigan, while the company also operates three full-line stores in the area.
Moving further west, Nordstrom’s next Rack store is planned to come up at The Mayfair Collection in Wauwatosa, just outside of Milwaukee in Wisconsin. The Mayfair Collection, a 250,000 square feet planned adaptive reuse development of a former industrial complex and distribution center will be located half a mile from Mayfair Mall. The shopping Center will also accommodate retailers like Dick's Sporting Goods Inc. (DKS - Free Report) and Ulta. The company expects to start operating its first Wisconsin showroom by spring 2014.
Nordstrom’s Rack stores generally offer merchandise that are in trend from Nordstrom stores and Nordstrom.com at a significantly reduced price to customers. Products at these stores are sold with discounts of roughly 50% to 60% from the original Nordstrom tags. Nordstrom Rack also carries a vast assortment of branded apparel, accessories and shoes that are available at Nordstrom stores, and are offered to customers at a discount of about 30% to 70%.
Nordstrom’s latest store openings signify the company’s commitment to expand its store network with the aim of driving top-line growth. As of August 2, 2012, Nordstrom operated 117 Nordstrom full-line stores, 110 Nordstrom Rack, 2 Jeffrey boutiques, 1 treasure&bond store and 1 clearance store, thus bringing the total store count to 231.
Moreover, the company has targeted to open 16 new stores in fiscal 2012 consisting of 1 full-line store and 15 Nordstrom Rack Stores. The company has also planned to add 24 new Rack stores in fiscal 2013 and intends to operate 230 Rack stores by the end of 2016.
Nordstrom currently maintains a Zacks #2 Rank, which translates into a short-term Buy rating. However, our long-term recommendation on the stock remains Neutral.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: https://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: https://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at https://at.zacks.com/?id=5518.
Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Zacks Investment Research
800-767-3771 ext. 9339