Nordstrom on Track With Expansion Plans, To Open Rack Store in Estero

Store Expansion and Strategy - Nordstrom Inc is expanding its physical presence with new Nordstrom Rack stores in Estero FL Coral Springs Melbourne and Lakeland this fall [1][2] - The new Estero location will be in Coconut Point a shopping center with over 110 stores offering an enhanced shopping experience [1] - The company currently operates six Nordstrom stores and 19 Nordstrom Rack stores in Florida generating over 2800 jobs statewide [2] - Nordstrom Rack targets value-conscious shoppers and is a key part of the company's Closer to You strategy [3] Financial Performance and Growth - Nordstrom Rack sales increased 106% year over year to $13 billion in Q3 fiscal 2024 with comparable sales up 39% [3] - The company is focused on improving Rack performance increasing inventory productivity and optimizing the supply chain [5] - Nordstrom shares have gained 392% in the past year compared to the industry's 403% growth [8] Digital and Operational Enhancements - Nordstrom Rack's digital channel differentiates it in off-price retail offering customers flexibility in shopping [4] - The company is reducing transportation costs and delivery times while enhancing services like faster delivery [4] - Nordstrom is increasing premium brand offerings at Rack improving assortment and brand awareness [4] Retail Industry Highlights - Deckers (DECK) sports a Zacks Rank 1 with current financial-year sales expected to grow 136% and an average earnings surprise of 411% in the trailing four quarters [11] - Boot Barn (BOOT) carries a Zacks Rank 2 with current financial-year sales expected to grow 134% and a trailing four-quarter earnings surprise of 68% [12] - Urban Outfitters (URBN) carries a Zacks Rank 2 with current financial-year sales expected to grow 66% and an average earnings surprise of 228% in the trailing four quarters [13]