Nordstrom Set to Release More Rack Locations
Finally! New York and California have something to celebrate this week! Nordstrom is expanding their “Rack” stores in more locations in New York and California. Nordstrom Rack, like Loemann’s is a discount clothing and accessory store for bargain shoppers. The new locations will be in Staten Island, New York and Laguna Niguel, California.
The California Rack will open in 2015 and is a 29,000 square foot space. The location has already been decided, The Center at Rancho Niguel will be the new home for this discount outlet. If you are local to the Niguel area, you know this space previously belongs to Loehmann’s, which unfortunately filed for bankruptcy and has been closing locations left and right. This location will be the seventh Nordstrom Rack to open in Orange County. There are six full Nordstrom stores in the county right now.
Meanwhile, in New York the Nordstrom Rack is set to open in Fall of 2016. The reason is, unlike the California location, this rack is going to be 34,000 square feet. This location will be two-stories and will be located in Empire Outlets in Staten Island. This is a waterfront development built on top of transit parking integrated into the Staten Island ferry terminal. This will be the seventh rack to open in New York City. Nordstrom is focusing on New York primarily because there are two racks opening this fall. One in Queens September 10th and the second in Brooklyn on October 8th.
The Nordstrom outlets are doing so well that there are more rack locations than full-line stores. There are currently 117 full-line locations that sell high-end designer clothing and accessories. There are a whopping 151 Nordstrom Rack stores nationally, and the number is continuously expanding. Totaling at 271 stores operating in 36 states, Nordstrom is doing very well.
In February 2011, Nordstrom announced the acquisition of LA based flash sale website Hautelook. This is an e-commerce operating site that holds spur of the moment sales on designer luxury goods. Items like Chanel and Rolex are sold on the site. The deal with Nordstrom included paying $180 million in stock.
Nordstrom is making over $12 billion in revenue. This company is something to pay attention to because of its competitive strategy in the market.
