Nordstrom Inc. (JWN), a leading fashion specialty retailer, announced the opening of a new 149,000 square feet store in Nashville, at The Mall at Green Hills. The three-level store at Green Hills will offer a wide range of clothing, accessories, shoes and cosmetics.
In the offing is a wide variety of quality, designer and luxury fashion brands at one store. Among designer brands customers would have the choice in ready-to-wear garments, accessories and handbags from Chanel and Gucci, besides apparel designed by Alexander McQueen, Rick Owens, and Dries Van Noten, and progressive designers like Carven, Elizabeth and James and Rag & Bone. The store will also showcase the handbags from Balenciaga, Givenchy and Proenza Schouler along with footwear collection from Chanel, Manolo Blahnik, Prada, Valentino and Yves Saint Laurent.
In the cosmetic department, the store will offer a wide selection of well-known, imported and exclusive-to-Nordstrom fine fragrances including Creed, Bond No. 9, Diptyque, and Jo Malone. Armani, Chantecaille, La Mer and Kate Somerville, are the few names that the store will have in the skincare and makeup department.
Amenities that the store will offer include in-store alterations and tailor shop, certified shoe fitters and Personal Stylist. The store will also have its newest restaurant concept Sixth & Pine and an espresso bar.
Based in Seattle, Washington, Nordstrom Inc. is a leading fashion specialty retailer in the U.S., offering high quality apparel, shoes, cosmetics and accessories for men, women and kids. The company offers both branded and private label merchandise, as well as a private label card, two Nordstrom VISA credit cards and debit cards for Nordstrom purchases.
However, Nordstrom operates in a highly fragmented specialty retail sector and faces intense competition from other well-established players, such as The Gap Inc. (GPS) and Limited Brands Inc. (LTD). The company primarily competes on the basis of fashion, quality and service.
Nordstrom's shares maintain a Zacks #2 Rank, which translates into a short-term 'Buy' rating. Our long-term recommendation on the stock remains 'Neutral'.
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