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Nordstrom bullish on online and outlet business; to double Rack count over next four years
New York -- On the heels of a strong performance in 2012 that included a 7.3% same-store sales increase, Nordstrom Inc. is investing heavily in its future. Two big areas of investment: online and expansion of the Nordstrom Rack outlet division, both in the United States and in Canada.
“Rack, direct and Canada will make up approximately half of our sales in the next five years,” Blake Nordstrom, president, Nordstrom Inc., said during the company’s quarterly conference call.
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Sneak Peak: J.C. Penney’s Joe Fresh shop
New York -- J.C. Penney has set a March 15 launch date for the debut of its Joe Fresh in-store shop concept. The Canadian fast-fashion apparel brand will be presented in dedicated shops, ranging from 750 sq. ft. to 2,500 sq. ft., in nearly 700 J.C. Penney stores.
The Joe Fresh collection will focus on modern basics for women, with everything priced under $70, according to J.C. Penney.