Q: Can a store or location have more than one category assigned to it?

Can the stores be categorized by more than one taxonomy? Not multiple tags in a single taxonomy, but multiple tags from multiple taxonomies?

A: Stores only have one categorization class – the store page taxonomy.
However, WordPress Taxonomies are hierarchical. Therefore, you are able to assign all the attributes you need to your locations and use the parents of the branches to drive the user experience. The Power add-on has several UX components such as “drill down” menus that allow users to select a specific category by selecting a parent first then a child.

Example:

Parent Category: Colors
— Red
— Green
— Blue
Parent Category: Sizes
— Large
— Medium
— Small