Nordstrom Unleashes the Power of Nordstrom Rack to Aid Its Recovery
While Nordstrom's (NYSE: JWN) off-price Nordstrom Rack business has had its fair share of ups and downs in recent years, it has been the company's primary growth driver over the past decade. Last year, Nordstrom reported domestic off-price sales of $5.2 billion, up from just $1.4 billion in fiscal 2009.
Now, Nordstrom is turning to its Rack stores to help it recover from the steep sales declines and losses it reported for the first two quarters of fiscal 2020. Here's how Nordstrom Rack can help the entire company return to success.
Nordstrom is leaning on the Rack chain in a way that involves the new fulfillment options it's rolling out broadly. A year ago, in conjunction with the opening of its Manhattan flagship store, the company began offering order pickup, returns, alterations, and even personal styling for full-price merchandise at its two Nordstrom Rack stores in Manhattan. Previously, Nordstrom had kept its full-price and off-price businesses quite separate.
Source Fool.com
