Nordstrom Expands Footprint by Opening Store in Florida's Lakeland

Nordstrom, Inc. JWN continues to bolster its growth strategy with plans to open a Nordstrom Rack store in Lakeland, FL, by fall 2025. The new store will span 30,000 square feet inside Lakeside Village, a prominent shopping center featuring retailers like Kohl's, Books-A-Million and Belk, alongside entertainment options such as CMX Cinemas.The new rack store aims to become a key shopping destination for the local community by offering an extensive range of high-quality brands at affordable prices. The evolution of Nordstrom Rack in Lakeland will bring exciting fashion options to meet the evolving demands of the community. Lakeside Village is owned and managed by Continental Realty Corporation and is ideally located off Harden Boulevard and Polk Parkway.The Lakeland Nordstrom Rack store will offer a range of convenient services to create a seamless shopping experience. Customers can also shop online via Nordstrom.com and NordstromRack.com, with the option to pick up their purchases in-store. The store will offer easy return processes, ensuring hassle-free returns. These services are designed to integrate online and in-store experiences, providing shoppers with greater flexibility and convenience.The Seattle-based fashion retailer, Nordstrom, which currently carries a Zacks Rank #2 (Buy), has risen 5.2% in the past six months, outpacing the industry’s decline of 4.1%. Image Source: Zacks Investment Research Nordstrom Rack's Offerings & ImpactsNordstrom Rack, the off-price retail division of Nordstrom, plays a key role in the company’s Closer to You strategy, which aims to provide a seamless and interconnected shopping experience across physical stores and digital platforms. The store offers customers up to a 70% discount on trending apparel, accessories, beauty products, home decor and shoes from many of the top brands sold at Nordstrom stores.Nordstrom is dedicated to investing in the diverse communities it serves. Nordstrom Rack stores are designed to attract a broad customer base by offering high-quality, fashionable items at significant discounts. By providing a wide selection of products from leading brands, Nordstrom Rack aims to meet the needs of budget-conscious shoppers while maintaining a strong focus on style and quality. The expansion into Florida demonstrates Nordstrom's commitment to growing its presence in key markets and contributing to local economies. This new store is expected to create job opportunities and stimulate economic activity in the surrounding areas. Currently, Nordstrom operates six Nordstrom stores and 19 Nordstrom Rack stores across the state, contributing to the creation of approximately 2,800 jobs statewide. This expansion highlights JWN’s commitment to increasing its physical footprint and economic impacts in the region.What’s More?Nordstrom has been making efforts to enhance customer experience through faster delivery. It remains focused on its long-term strategy, which builds on its market strategy to capitalize on its digital-first platform, gain market share and deliver profitable growth. For this, the company is focused on three areas: winning in important markets, expanding the reach of Nordstrom Rack and enhancing its digital capabilities.Nordstrom is making efforts to drive efficiency and improve customer experience via faster order fulfillment. Also, increased focus on Nordstrom Rack bodes well. The company continues to focus on introducing more premium brands at Rack, better assortments and increased brand awareness. It has introduced five Rack stores in the reported quarter, bringing its year-to-date total to 11. Going ahead, it intends to roll out to more markets. Management expects to open 12 more Rack stores in 2024, before the holiday season.Three Other Picks You Can’t MissWe have highlighted three other top-ranked stocks in the broader sector, namely Deckers DECK, Abercrombie & Fitch Co. ANF and The Gap, Inc. GAP.Deckers, a footwear and accessories dealer, currently sports a Zacks Rank #1(Strong Buy). DECK delivered an average earnings surprise of 41.1% in the trailing four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Deckers’ current financial-year sales and earnings indicates growth of 13.6% and 12.6%, respectively, from the year-ago reported figures.Abercrombie, a leading casual apparel retailer, currently carries a Zacks Rank of 2. Abercrombie has a trailing four-quarter earnings surprise of 27.9%, on average.The Zacks Consensus Estimate for ANF’s current financial-year sales and earnings indicates growth of 13% and 64.2%, respectively, from the year-ago reported figures.Gap operates as an apparel retail company, which offers apparel, accessories and personal care products for men, women and children. It currently has a Zacks Rank #2.The Zacks Consensus Estimate for The Gap’s current fiscal-year sales and earnings indicates growth of 0.5% and 31.5%, respectively, from the year-ago quarter’s reported numbers. GAP has a trailing four-quarter average earnings surprise of 142.8%.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report Deckers Outdoor Corporation (DECK): Free Stock Analysis Report Nordstrom, Inc. (JWN): Free Stock Analysis Report The Gap, Inc. (GAP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks