Nordstrom's Latest Concept Store: No Inventory

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The new retail concept will be just a fraction of the size of a typical Nordstrom store-3,000 sq. ft.as opposed to 140,000 sq. ft.

This isn't to say Nordstrom will not continue to focus on its department stores- it is opening a new location in Toronto this week.

Personal stylists: Customers can make an appointment with a stylist online, over the phone or in-person for this free service.

Nordstrom thinks the streamlined experience reflects the way many people want to shop now.

Nordstrom's shares rose as much as 9.6 percent to $49.40 in after-hours trading on Tuesday, valuing the USA department store operator at $8.21 billion.

The Nordstrom family members - company Co-Presidents Blake Nordstrom, Peter Nordstrom and Erik Nordstrom; President of Stores James Nordstrom; Chairman Emeritus Bruce Nordstrom; and Anne Gittinger, granddaughter of Nordstrom co-founder John Nordstrom - had not made any proposal yet, the company said then. There are eight dressing rooms available for customers to try on the merchandise.

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More than anything, Nordstrom Local is service-oriented, and in addition to styling services, customers have access to the retailer's other amenities like Trunk Club styling, Buy Online, Pick-Up In-Store, onsite alterations and tailoring, same-day delivery, and curbside delivery. Instead, personal stylists will retrieve goods from Nordstrom locations in Los Angeles, or through its website.

It is marketing Nordstrom Local as a time-saving option, at a time when shopping online is often seen as more convenient than entering brick-and-mortar stores. "Finding new ways to engage with customers on their terms is more important to us now than ever". So far, the luxury department store has largely avoided the full brunt of the 'retail apocalypse, ' but the stock is trading at just 55% of its $82 peak in March of 2015.

Leonard Green would provide the Nordstrom family with about $1 billion in equity to help fund an offer, according to CNBC, which first reported the development.

The group owns 51.8 million shares, representing about 31.2 percent of the company's outstanding stock, it said in a June regulatory filing.

Nordstrom Local will also act as an IRL hub for online shoppers.

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