Now located in about one-quarter of its 98 full-line stores, an expanded designer department will be added to a small number of "focus" stores each year.
"Every year we look over [our base]," said Pete Nordstrom, president of merchandising. "We believe we can add two or three stores to that list [annually]."
The remodel of the company's store at Mall of America, which included an expanded luxury department, was extremely successful, he noted.
"There are literally several places where this could happen," Nordstrom added.
Expansion also continues. The company recently announced plans to open a new 138,000-sf Nordstrom at University Town Center in Sarasota, FL, in fall 2010.
The Federated/May Co. merger has created some opportunities for expansion, Pete Nordstrom added.
"We're always talking to developers about new opportunities," Nordstrom said.
The expansion plan for Nordstrom Rack are less aggressive, maintaining a ratio of one new Rack store opening for every two full-line stores. A 35,000-sf Rack will open at Park Lane In Dallas in fall 2008, the third unit in the state.
Total sales in the first quarter were $1.95 billion, up 9.3% compared from the same period in fiscal 2006. First quarter same-store sales increased 9.5 percent. The company reported net earnings of $156.8 million for the quarter compared with net earnings of $131.2 million the previous year.
Nordstrom operates 98 full-line stores, 50 Nordstrom Racks, four Faconnable boutiques in the United States, one free-standing shoe store, and two clearance stores. Nordstrom also operates 36 Faconnable boutiques in Europe.
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