Many retailers, pummeled by online competition and shifting consumer tastes, are slashing costs and closing hundreds of stores. Nordstrom Inc. is doing the opposite.
The family-run company has been
investing heavily as it tries to outrun the forces battering the
industry. It is revamping some of its 122 department stores and spending
more than $500 million to gain a toehold in Manhattan. It has snapped
up e-commerce companies including flash sale website HauteLook and
subscription service Trunk Club. And it has launched new concepts,
including a store in Los Angeles called Nordstrom Local that doesn’t stock any clothes.. . . more