Can Nordstrom's New NYC Store Fill the Vacuum Left by Barneys' Bankruptcy?

Nordstrom (NYSE: JWN) just made a bold move by unveiling a multimillion-dollar enterprise and moving into a market where other fashion retailers are struggling. The company's flagship New York City store, which opened on Oct. 24, was planned well in advance of Barneys' Chapter 11 announcement, and it now has a chance to ride on the shoulders of the displaced designer chain.

Nordstrom became a household name across the West Coast in the 1970s and 1980s, opening stores in major cities and gaining a reputation for great customer service and merchandise options. It has won the top spot for the past six years in the annual Market Force Information survey of retail stores for a host of reasons, including clothing size availability, value, checkout speed, and store atmosphere. Clearly, management knows what it's doing.

Image source: Getty Images.

Source Fool.com