Nordstrom, Inc. (NYSE:JWN) has unveiled plans to open a new Nordstrom Rack store in Bay Shore, NY, as part of its expansion strategy to reach a wider customer base. The company views this as an opportunity to grow its store network and introduce the unique and diverse product offerings of Nordstrom Rack to new customers.
This Nordstrom Rack store will occupy 24,000 square feet of space and will be located in the South Shore area of Long Island at the Gardiner Manor Mall, alongside popular retailers such as HomeGoods, Barnes & Noble, Michaels, and Old Navy. The Gardiner Manor Mall is owned and managed by Kite Realty Group Trust and is conveniently situated off the Sunrise Highway, east of the Robert Moses Causeway in Bay Shore.
With the addition of this new store, Nordstrom aims to further expand its presence in New York, increasing its store count in the region to 12 Nordstrom Rack locations, complemented by three Nordstrom stores and two Nordstrom Locals. The Bay Shore store is scheduled to open to the public in the spring of 2024.
Nordstrom’s expansion plans extend beyond Bay Shore, as the company also intends to open another Nordstrom Rack location in Macedonia, OH, in the spring of 2024. Furthermore, it recently announced plans to open Nordstrom Rack stores in San Diego, CA, and Mason, OH, set to open in the fall of 2024.
Nordstrom Rack plays a pivotal role in Nordstrom’s “Closer to You” strategy, which focuses on enhancing the customer shopping experience across its physical stores and digital platforms. Nordstrom Rack offers a wide range of fashionable products, including apparel, accessories, beauty items, home goods, and shoes, at discounts of up to 70 percent. The store also provides core services such as online order pickup for Nordstrom.com and NordstromRack.com, easy returns, and select in-store alterations. Nordstrom Rack is a significant driver of customer traffic for Nordstrom and contributes to the company’s overall growth.
Nordstrom’s decision to open a Nordstrom Rack store in Bay Shore, NY, underscores its commitment to expanding its reach and delivering an enhanced shopping experience to a broader audience. This expansion aligns with the company’s strategic objectives and underscores its dedication to supporting the communities it serves.
In recent times, Nordstrom has faced challenges in the stock market, with shares declining by 27.2% in the past three months, compared to the industry’s decline of 2.3%. The company has been grappling with its top-line performance and anticipates a year-over-year revenue decline of 4-6% in fiscal 2023.
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