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Department store chain Nordstrom to open new stores

RBR Staff Writer Published 10 August 2012

US-based department store chain Nordstrom is planning to open 15 new stores in 2012 and additional 24 stores in 2013.

Based on the strong performance at its outlet stores, Nordstrom will also accelerate the pace of Rack's expansion by open around 230 Nordstrom Rack stores by the end of 2016.

The company reported a drop in its second quarter 2012 net earnings for the quarter ended 28 July 2012 to $156m, compared to $175m for the corresponding quarter of fiscal 2011.

The retailer's same-store sales for the quarter increased by 4.5%, while its net sales in the quarter were $2.92bn, up 7.4%.

Total revenues for the three-month period ended 28 July 2012 were $3bn, an increase from $2.8bn in Q2 2011.

Nordstrom, currently, operates 231 stores in 31 states, including 117 full-line stores, 110 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store.