Nordstrom Lists New Stores

The plans unveiled Monday call for Nordstrom to open four stores of 140,000 sf each. They will include a newly relocated store at the Fashion Place, in Murray, UT in the spring of 2009 and a new store at the Kenwood Towne Centre in Cincinnati in the fall of 2009. In the spring of 2010, the company will open a new store at the St. Louis Galleria in St. Louis, and in the spring of 2011 it will open a new location at the Christiana Mall in Wilmington, DE.

Nordstrom store openings during the third quarter included its newly relocated store at Westfield Topanga Mall in Canoga Park, CA. The company says the 213,000-sf, three-level store features its "most comprehensive designer offering in the country" along with new design concepts, amenities and services. After the close of the quarter, the company opened a new 35,000-sf Nordstrom Rack store at Grand Plaza in San Marcos, CA in November.

The new stores will be part of a budget for capital expenditures for the fiscal years 2007 through 2011 that will total $2.8 billion over the five years. Approximately 80% of the capital will be allocated to new stores, store relocations and store remodels.

The chain's report on its financial results for the third quarter ended Oct. 28 listed net earnings of $135.7 million, or 52 cents per diluted share, compared with $107.5 million, or 39 cents per diluted share, for the third quarter last year. Total sales for the third quarter climbed to $1.9 billion, a 12.4% increase over last year's third quarter, with same store sales rising 10.7%.

Nordstrom Inc. operates 157 US stores located in 27 states. These include 99 full-line stores, 50 Nordstrom Racks, five Faconnable boutiques, one free-standing shoe store and two clearance stores. Nordstrom also operates 35 international Faconnable boutiques in Europe.