Nordstrom Rack has been expanding rapidly this year, and the company has no plans of slowing down its pace of opening outlet stores, according to a WWD profile. The retailer wants to keep growing the number of Rack locations and admits that its long-awaited Manhattan store could be a tipping point for the brand as it attempts to reach $20 billion in sales by 2020.
As was the case earlier this year, Nordstrom Rack stores continue to drive dollars for the brand. Nordstrom Rack's profits rose 23% this year, while Nordstrom stores only saw 0.5% growth. Unsurprisingly, Nordstrom is investing heavily in the profitable stores and plans to have 300 locations open (there are currently 188 Nordstrom Rack stores) by 2020.
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