On the heels of a strong performance in 2012 that included a 7.3 percent same-store sales increase, Nordstrom is investing heavily in its future. Two big areas of investment: online and expansion of the Nordstrom Rack outlet division, both in the United States and Canada. Some 24 new Rack locations are planned for this year, with more than 30 expected in 2014. The company is looking to double its Rack portfolio, from its current 119 locations to more than 230 stores over the next four years.
British fashion mogul Sir Philip Green plans to open 10 more Topshop stores in the U.S. within two-and-a-half years, after launching its first California branch in Los Angeles last week. Topshop, which is part of Green's fashion conglomerate Arcadia Group, also has branches in New York, Chicago and Las Vegas, as well as a partnership with upscale fashion department store Nordstrom.