Can group save retail? Nordstrom creates large gamble on a once ignored shopper

Bloomberg

Nordstrom is opening a store exclusively for menswear in New York City

Even as thousands of store closures cringe a U.S. sell bricks-and-mortar footprint, there’s a singular difficulty with room for additional block footage, experts say: menswear.

Nordstrom Inc.

JWN, -0.96%

announced it will be posting jobs Wednesday for 250 pursuit openings for a new Manhattan store, that will be wholly dedicated to menswear. It’s set to open in Apr 2018.

“While all of attire stays overstored and over-retailed, there are most fewer retailers and brands that are still usually dedicated to menswear, so there is still room for new businesses to grow,” pronounced Tiffany Hogan, comparison attire researcher during Kantar Retail.

Hogan records that menswear sales have been climbing over a past few years as younger group take a larger seductiveness in fashion. More infrequent workplace dress codes have also shifted masculine selling habits, with group means to enhance their wardrobes as equipment go from a bureau to cooking and other after-hours events.

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“Men also tend to be some-more constant and unchanging shoppers, and their selling habits are mostly reduction shabby by conform trends and some-more by their possess habit needs,” Hogan said. “This creates a some-more unchanging and arguable shopper base, generally as seductiveness in women’s attire struggles with an oversupplied marketplace.”

Nordstrom isn’t a usually tradesman to take note of a opportunity. On a third-quarter gain call, Lululemon Athletica Inc.

LULU, -1.38%

executives pronounced they saw a 21% boost in new masculine business during a entertain and a 26% same-store sales boost in a men’s bottoms business. The men’s business, among others, could grow to $1 billion by 2020, pronounced Chief Executive Laurent Potdevin, according to a FactSet transcript.

American Eagle Outfitters Inc.

AEO, -4.43%

executives also talked adult their men’s business on a new gain call.

“We continue to see certain formula out of a men’s business with men’s bottoms stability to be really clever and with a men’s tops and accessories businesses stability to improve,” pronounced American Eagle Global Brand President Charles Kessler, who says there’s “a lot of event for that to urge via 2018.”

J.C. Penney Co. Inc.

JCP, +5.71%

began creation deeper inroads into menswear final May when it launched a men’s athleisure line with “Good Morning America” co-anchor Michael Strahan and recently announced a possess online menswear styling partnership with Bombfell.

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Online styling use Stitch Fix Inc.

SFIX, -0.57%

launched a men’s business in Sep 2016, emphasizing a expansion intensity while observant that a men’s marketplace is about two-thirds a distance of a women’s.

“Despite a plea of building a code new business with a code new patron base, within 6 months, we were really gratified to see a men’s business reaching relation with women’s in a normal series of equipment purchased per Fix,” pronounced Chief Operating Officer Mike Smith on a Dec. 19 mercantile first-quarter gain call. “In addition, we continue to see clever active customer expansion quarter-over-quarter.”

Nordstrom shares are adult 10.1% in a past 3 months, while American Eagle Outfitters is adult 31.8% over a duration and J.C. Penney is down 3.2%. The SP 500 index

SPX, +0.64%

is adult scarcely 7% in a final 3 months.

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