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Nordstrom Plans New Location In Florida

Nordstrom Inc (NYSE:JWN) plans to open a new Nordstrom Rack in the spring of 2023. The new store will be located…
byShivani Kumaresan
September 7, 2022
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  • Nordstrom Inc (NYSE:JWN) plans to open a new Nordstrom Rack in the spring of 2023.
  • The new store will be located in Delray Place in Delray Beach, Florida.
  • The 26,000-square-foot store was developed and is owned and managed by Retail Property Group (RPG).
  • With the addition of this new location, Nordstrom will operate 17 Nordstrom Rack stores and 6 Nordstrom stores in Florida.
  • “We look forward to opening our first Nordstrom Rack location in the Delray Beach community, strengthening our network of stores, and introducing new customers to the Rack’s unique product offering,” said Carl Jenkins, SVP of Nordstrom Rack stores.
  • Price Action: JWN shares are trading higher by 3.77% at $18.73 on the last check Wednesday.
 
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The graph shows the Enterprise Value to Next Twelve Months (NTM) EBITDA ratios for two groups of cannabis companies: those with market caps greater than $750M (green line) and those with market caps less than $300M (orange line). In addition, the valuation multiple difference, which we refer to as the valuation gap, is shown by the black line.

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