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Nordstrom Slides After Announcing Plans of a Smaller Store Concept With No Merchandise
- Chain plans to open new shop in West Hollywood next month
- Nordstrom Local to offer services but won’t keep wares on hand
Nordstrom Local in Los Angeles.
Source: PRNewsfoto/NordstromNordstrom Inc.’s plan to open a smaller store concept with no inventory isn’t sitting well with investors.
The shares suffered their worst decline in more than a month after the department-store chain announced the new “neighborhood-hub” shop, which will open on Oct. 3 in West Hollywood, California. The idea is to let customers try on clothing and accessories with the help of a personal stylist. If shoppers like what they see, they can order the goods and have them delivered.