Nordstrom Rack to Open New Location in Manalapan Township

Rhea-AI Summary

Nordstrom, Inc. (JWN) plans to open a new Nordstrom Rack in Manalapan Township, New Jersey in spring 2025, offering great brands at great prices. The 26,000-square-foot store will enhance the shopping experience with convenient services. This expansion highlights Nordstrom's commitment to growth and community engagement.

Retail Industry Analyst

The expansion of Nordstrom Rack into Manalapan Township, New Jersey, represents a strategic move within the retail sector. This new store is part of Nordstrom's 'Closer to You' strategy, which aims to enhance customer experience by integrating their physical stores with digital platforms. The decision to open a 26,000-square-foot store in a well-trafficked shopping center such as Manalapan Commons indicates Nordstrom's commitment to extend its off-price retail division.

By situating the new store alongside established retailers like Best Buy and Panera Bread, Nordstrom is likely to benefit from existing foot traffic and consumer demographics familiar with mid-tier to upscale shopping experiences. This location choice could potentially increase Nordstrom Rack's customer base and drive sales, both in-store and online, given the emphasis on convenient services such as online order pickup and easy returns. The presence of Nordstrom Rack may also contribute positively to the economic landscape of Manalapan Township by creating jobs and potentially attracting more shoppers to the area.

However, the retail industry is highly competitive and sensitive to economic fluctuations. The success of this new store will depend on several factors, including consumer spending behavior, the effectiveness of Nordstrom's omnichannel strategy and the company's ability to differentiate itself from other discount retailers. Moreover, with the rise of e-commerce, Nordstrom must ensure that its physical stores complement rather than compete with its digital offerings.

Market Research Analyst

When analyzing the impact of a new Nordstrom Rack store on the stock market, it's important to consider consumer trends and the competitive landscape. The off-price retail market has shown resilience during economic downturns, as consumers look for value in their purchases. Nordstrom Rack's strategy of offering up to 70 percent off on-trend merchandise aligns with this consumer behavior, potentially making it an attractive investment proposition.

The announcement of the new store's opening in spring 2025 provides insight into Nordstrom's long-term planning and growth trajectory. Investors typically look favorably upon expansion plans that are well-calculated and demonstrate a clear understanding of market opportunities. The addition of a new Nordstrom Rack store in a prime location could be perceived as a positive signal regarding the company's future performance and ability to capture market share from competitors.

It is also noteworthy that Nordstrom Rack is the largest source of new customers to Nordstrom, suggesting that the expansion of Rack stores could have a halo effect on the broader Nordstrom brand. This could lead to increased cross-selling opportunities and higher customer lifetime value, which are key metrics for evaluating retail investments.

Corporate Social Responsibility Expert

Nordstrom's commitment to community investment, as evidenced by its partnership with Big Brothers Big Sisters of the United States, is an essential aspect of its corporate social responsibility (CSR) initiatives. The near $2 million in donations over four years underscores the company's dedication to social impact and mentorship programs.

From an investor's perspective, CSR efforts can enhance a company's reputation and brand loyalty, which are intangible assets that can contribute to long-term success. Stakeholders increasingly value companies that demonstrate ethical practices and community involvement. Nordstrom's CSR activities could potentially strengthen its brand image and customer loyalty, which may have positive implications for its business performance and, by extension, its stock valuation.

While CSR initiatives may not directly influence short-term financial results, they can lead to sustainable business practices and a stronger brand in the long run. Investors and consumers alike are becoming more conscious of the ethical dimensions of their investments and purchases, making Nordstrom's CSR efforts a relevant factor in evaluating the company's overall impact and desirability in the market.

SEATTLE, Feb. 13, 2024 /PRNewswire/ -- Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) announced plans to open a new Nordstrom Rack in Manalapan Township, New Jersey in spring 2025.

"We look forward to being a part of the Manalapan Township community and serving our customers with an amazing offering of great brands at great prices," said Gemma Lionello, President of Nordstrom Rack Stores. "We're excited to grow our footprint in the region and introduce new customers to the Nordstrom experience."  

Lionello added that in this location "customers will be able to take advantage of our convenient services such as online order pick up from both Nordstrom.com and NordstromRack.com, and they can make returns easily."

The 26,000-square-foot store will be located in Manalapan Commons, a popular shopping center that includes Best Buy, Panera Bread, Five Below, PetSmart and Raymour & Flanigan. Manalapan Commons is owned and managed by Urban Edge Properties and is ideally located off of Route 9 and Craig Road.

"Nordstrom Rack brings fashion to this center for the first time, broadening its appeal to the surrounding community," said Leigh Lyons, SVP of Leasing for Urban Edge. "We received interest from several large tenants before deciding to proceed with Nordstrom, supporting our view that Manalapan Commons as is a prime retail location in the trade area."

Nordstrom Rack is the off-price retail division of Nordstrom, Inc. and plays a critical role in the company's Closer to You strategy, which focuses on delivering customers a more convenient and interconnected experience across its stores and digital platforms. Nordstrom Rack offers customers up to 70 percent off on-trend apparel, accessories, beauty, home and shoes from many of the top brands sold at Nordstrom stores as well as core services like online order pickup for Nordstrom.com and NordstromRack.com, easy returns and alterations at select stores. Nordstrom Rack is the largest source of new customers to Nordstrom.

With the addition of this new location, Nordstrom expands its physical footprint and economic impact in New Jersey. The company operates four Nordstrom stores and nine Nordstrom Rack stores in New Jersey, generating more than 1,500 jobs statewide. 

Nordstrom is committed to investing in the diverse communities where it operates. Over the past four years, Nordstrom, with its customers, has donated nearly $2 million in support of its long-term partnership with Big Brothers Big Sisters of the United States. These proceeds support the recruitment, training and engagement of adult mentors and mentorship moments between Bigs and Littles, including preparing for an interview, learning to tie a tie and helping with homework.  

About Nordstrom

At Nordstrom, Inc. (NYSE: JWN), we exist to help our customers feel good and look their best. Since starting as a shoe store in 1901, how to best serve customers has been at the center of every decision we make. This heritage of service is the foundation we're building on as we provide convenience and true connection for our customers. Our interconnected model enables us to serve customers when, where and how they want to shop – whether that's in-store at more than 350 Nordstrom, Nordstrom Local and Nordstrom Rack locations or digitally through our Nordstrom and Rack apps and websites. Through it all, we remain committed to leaving the world better than we found it. 

About Urban Edge Properties  

Urban Edge Properties is a NYSE-listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. 76 properties totaling 17.1 million square feet of gross leasable area.  For further information, please visit https://www.uedge.com. 

MEDIA CONTACT:  
Sepeedeh Hashemian 
Nordstrom, Inc.
NordstromPR@Nordstrom.com  

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/nordstrom-rack-to-open-new-location-in-manalapan-township-302060452.html

SOURCE Nordstrom, Inc.

When will Nordstrom open a new Nordstrom Rack in Manalapan Township, New Jersey?

Nordstrom plans to open the new Nordstrom Rack in spring 2025.

What services will the new Nordstrom Rack offer in Manalapan Township?

Customers can take advantage of convenient services such as online order pick up from both Nordstrom.com and NordstromRack.com, as well as easy returns.

What is the size of the new Nordstrom Rack store in Manalapan Township?

The new store will be 26,000 square feet in size.

How does Nordstrom Rack contribute to Nordstrom's Closer to You strategy?

Nordstrom Rack plays a critical role in delivering customers a more convenient and interconnected experience across its stores and digital platforms.

How many Nordstrom stores and Nordstrom Rack stores are currently operating in New Jersey?

Nordstrom operates four Nordstrom stores and nine Nordstrom Rack stores in New Jersey.