Nordstrom Has Opened Its Last Full-Line Store in Canada: Will Profits Follow?
Five years ago, American fashion giant Nordstrom (NYSE: JWN) decided to expand into Canada. It identified a handful of attractive sites for full-line stores and made plans to open them over a three-year period beginning in late 2014.
Earlier this month, Nordstrom opened its sixth full-line store in Canada, at Toronto's Sherway Gardens mall. This completes the initial phase of its move into Canada. As Nordstrom's Canadian store base matures, it should contribute to stronger earnings and free cash flow for the company as a whole.
The new Nordstrom store at Sherway Gardens opened to the public on Friday, Sept. 15. In line with company tradition, Nordstrom underwrote a charity gala at the store earlier in the week and hosted a "Beauty Bash" on the morning that the new store opened. Both events served to raise consumer awareness of the new store.
Source: Fool.com
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