'Nordstrom Rack Hires Lori Marten As EVP As It Gears Up For Growth' - WWD
Portfolio Pulse from Benzinga Newsdesk
Nordstrom Inc. has appointed Lori Marten as the Executive Vice President and General Merchandising Manager of Nordstrom Rack, its off-price division. This move is part of Nordstrom's strategy to focus on growth and profitability, with plans to open 22 new Rack stores in addition to the 19 opened in 2023. Marten, a 25-year retail veteran, will lead the merchandising team and drive the merchandise strategy for both Nordstrom Rack stores and NordstromRack.com. The company reported a 14.6 percent increase in Rack's sales in the fourth quarter, contributing to Nordstrom's net earnings of $134 million for the quarter.
April 08, 2024 | 4:47 pm
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Nordstrom Inc. appoints Lori Marten as EVP of Nordstrom Rack, signaling a strong focus on growth and profitability. The company plans to open 22 new stores, following a successful increase in sales and net earnings.
The appointment of Lori Marten as EVP and the planned expansion of Nordstrom Rack stores indicate a strategic move to bolster growth and profitability. The positive sales growth and increased net earnings reported for the fourth quarter further support a bullish outlook for Nordstrom Inc. in the short term. The focus on recognizable brands and the expansion in key markets are likely to enhance customer experience and drive further sales.
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