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Nordstrom to Open More than 20 New Rack Stores in 2024
Nordstrom plans to open 22 new Rack stores this year, focusing on solely growing its discount Rack department stores as the company’s traditional name brand struggles, reported The Seattle Times.
The company announced the expansion on its latest earnings call, which detailed plans that call for Rack locations in California, Florida, Georgia, North Carolina, Ohio, Texas, Arizona, Illinois, Indiana, Nebraska, New York and Tennessee.
“We’re laser-focused on efforts we know will drive growth and profitability across the business over the next few years, including new Rack store openings, Nordstrom digital growth and increasing comp store sales,” said CEO Erik Nordstrom.
In the last quarter of 2023, Rack was a significant source of sales growth for the Seattle-based retailer, with net sales up 14.6% during that period compared with the previous year, while Nordstrom sales declined 3%. Rack also generates nearly half of the company’s new customers.
