Nordstrom to open two new inventory-free stores in LA
Tue 10/07/2018 – 15:49
Nordstrom is gearing up to open two new store locations in Los Angeles that will embrace its latest inventory-free retail concept, baptized Nordstrom Local.
(Auhor : Jennifer Braun)
The Upscale department store operator announced on Monday that the latest Nordstrom Local neighborhood hubs would open in Brentwood and in Downtown, Los Angeles this fall. The first Nordstrom Local opened late last year on Melrose Avenue in Los Angeles and is designed to offer customers access to Nordstrom services like onsite tailoring and alterations, curbside pickup, easy returns, and more. The concept is made to make shopping more convenient for customers by providing services, but no inventory.
“Nordstrom is continuing to invest in its growth strategy with the goal of increasing market share by providing customers with better and more convenient services and access to more products,” said Ken Worzel, president of Nordstrom.com and chief digital officer, in a news statement.
“Through our local market strategy, we’re combining the scale of our national infrastructure with our local assets of people, product, and place to help reimagine the shopping experience for our customers.”
The new Nordstrom Local in Brentwood will be approximately 1,200 square feet and will open at 214 26th Street, while the downtown Los Angeles location will be located at 700 S Flower St, and will be approximately 2,200 square feet.
The new store concept comes at a time where the retail landscape is changing. Retailers have since been embracing smaller retail footprints and more innovative store designs. Nordstrom also opened its first men’s-only store in New York City earlier this year.
In its latest reported quarter ended May 5, Nordstrom’s net income rose to $87 million, or 51 cents per share, from $63 million, or 37 cents per share, a year earlier. Total revenue increased 6.2 percent to $3.56 billion, beating estimates of $3.46 billion.