Nordstrom Rack to Open New Location in Omaha, Nebraska
- Expansion into a new market in Nebraska enhances the company's growth prospects
- The 30,000-square-foot store in Village Pointe will offer convenient services such as online order pick up and easy returns
- Nordstrom Rack's off-price retail division provides customers up to 70 percent off on-trend apparel, accessories, beauty, home, and shoes from top brands
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Expanding into a new market, as seen with Nordstrom's announcement of a Nordstrom Rack in Omaha, Nebraska, is a strategic move that can potentially increase market share and revenue. The choice of location within a popular shopping center, Village Pointe, suggests a deliberate effort to tap into an existing flow of consumer traffic. By positioning itself among other well-known retailers, Nordstrom may benefit from cross-shopping behaviors, where consumers visit multiple stores in one trip.
The launch of this store aligns with Nordstrom's 'Closer to You' strategy, emphasizing the integration of physical and digital retail experiences. Offering services like online order pickup and easy returns is indicative of the evolving retail landscape where convenience is paramount. These services are likely to enhance customer satisfaction and loyalty, which can translate into repeat business and positive word-of-mouth.
Moreover, the store's introduction to a new geographic market could serve as a gateway to attracting new customers to the Nordstrom brand. Given that Nordstrom Rack is the largest source of new customers for the company, this expansion could significantly contribute to customer base growth. The impact on the stock market may be positive if investors perceive this move as a sign of robust growth strategy and effective market penetration.
From a financial perspective, the opening of a new Nordstrom Rack store is a capital-intensive venture that will incur upfront costs related to construction, staffing and inventory. However, the long-term benefits could offset these initial investments through increased sales and customer acquisition. Investors should monitor the performance of this new store as an indicator of Nordstrom's ability to execute expansion strategies and generate returns on investment.
It is also essential to consider the competitive landscape. While the introduction of Nordstrom Rack may attract new customers, it also has the potential to cannibalize sales from nearby retailers. The balance between attracting new market segments while not adversely impacting existing sales will be crucial for Nordstrom's overall financial health.
Lastly, Nordstrom's commitment to community investment, as evidenced by its partnership with Big Brothers Big Sisters of the United States, may resonate with socially conscious consumers and investors. Such corporate social responsibility initiatives can enhance brand reputation and customer loyalty, potentially leading to stronger financial performance in the long run.
"We look forward to being a part of the
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 30,000-square-foot store will be located in Village Pointe, a popular shopping center that includes Best Buy, Scheels, lululemon, DSW and more. Village Pointe is owned and managed by RED Development and is ideally located off of 168th Street and West Dodge Road.
"We are constantly striving to continue to provide a thriving and dynamic shopping, dining and entertainment experience for our shoppers," said Alicia Peters, General Manager of Village Pointe. "The addition of
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.
Nordstrom is committed to investing in the diverse communities where it operates. Over the past four years, Nordstrom, with its customers, has donated nearly
About RED Development
For more than 25 years, RED Development has been an industry-leading, wholly integrated commercial real estate company known for its high-performing mixed-use and retail portfolio. A preferred partner for best-in-class retailers and investors, RED is known nationally for its vibrant, well-trafficked ground-up developments along with its keen expertise for remerchandising and repositioning existing properties to improve profitability and appeal. Headquartered in
About Village Pointe
Village Pointe is a 571,616 square-foot, open-air lifestyle center in
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 digital-first platform 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 Nordstrom Rack apps and websites. Through it all, we remain committed to leaving the world better than we found it.
MEDIA CONTACT:
Lauren Herrin
Nordstrom, Inc.
NordstromPR@Nordstrom.com
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SOURCE Nordstrom, Inc.
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