The department store operator is opening 20 Nordstrom Rack stores and zeroing in on best-selling brands.
Nordstrom will offer updates about its turnaround strategy when it reports earnings May 31.Nordstrom Rack, a brand that caters to bargain-hunting fashionistas, was founded in 1973. As the department store retailer has closed some full-line stores, it has opened more of the off-price locations.
Nordstrom Rack stores accounted for more than 40% of new customers in 2022, CEO Erik Nordstrom said on the March earnings callThe stores are also a way to move merchandise out of its full-line business, but still sell it in a profitable way, Jamie Nordstrom said. Rack also buys from brands' closeout sales.Nordstrom has turned Rack stores into e-commerce hubs, too.
She dubbed 2023 as off-price's "golden moment" because many retailers and brands got stuck with a lot of extra inventory. Sophisticated buyers can get good merchandise for less.Yih added Rack doesn't have the same breadth as off-price competitors, which have large categories such as home goods and food. Plus, Nordstrom risks stealing sales away from its namesake business, she said.
Sales performance is stronger at the company's three newest Rack stores, Chief Brand Officer Pete Nordstrom told investors on the March call. He called that a "proof point" when brands are hot and merchandise is fresh, shoppers respond.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Nordstrom wants off-price chain Rack to lead it out of sales slumpThe department store operator is opening 20 Nordstrom Rack stores and zeroing in on best-selling brands.
Consulte Mais informação »
Casablanca and Nordstrom Just Opened a New Pop-Up Filled With Colorful Athleisure WearCasablanca and Nordstrom's new pop-up has arrived, and it's full of bright colors, striking prints, and bold accessories. fashion menswear
Consulte Mais informação »
The real reasons stores such as Walmart and Starbucks are closing in big cities | CNN BusinessNordstrom, Whole Foods and other big chains have closed stores in major US cities recently, raising alarm about the future of retail in some the country's most prominent downtowns.
Consulte Mais informação »
The real reasons stores like Walmart and Starbucks are closing in big citiesNordstrom. Walmart. Whole Foods. Starbucks. CVS. Several forces are pushing chains out of some city centers.
Consulte Mais informação »
The real reasons stores like Walmart and Starbucks are closing in big citiesNordstrom. Walmart. Whole Foods. Starbucks. CVS. Several forces are pushing chains out of some city centers.
Consulte Mais informação »