SEATTLE, May 25 /CHICAGOPRESSRELEASE.COM/ — Seattle-based Nordstrom, Inc. (NYSE: JWN) announced plans to relocate its Spokane-area Nordstrom Rack from Northtown Mall in Spokane, Wash. to Spokane Valley Plaza in Spokane City, Wash. The relocated Nordstrom Rack is scheduled to open October 28, 2010.
The new 30,000-square-foot Nordstrom Rack will have 23% more selling space, allowing the retailer to offer customers a larger selection of merchandise. Additionally, Nordstrom Rack can potentially serve more customers as Spokane Valley Plaza is located just off of the I-90 corridor serving both the greater Spokane area as well as northern Idaho.
Nordstrom Rack is a unit of the company’s off-price retail division and carries merchandise from Nordstrom stores and Nordstrom.com at 50-60% off original Nordstrom prices. Nordstrom Rack also offers a wide selection of apparel, accessories and shoes from many of the brands carried in Nordstrom stores and purchased specially for Nordstrom Rack, with most at savings of 30-70% off.
The Nordstrom Rack will join a group of other retailers at Spokane Valley Plaza that includes TJ Maxx, Old Navy, and Wholesale Sports Outdoor Outfitters.
“We’ve been doing business in Spokane for 36 years and we love serving our customers in the greater Spokane area,” said Geevy Thomas, president of Nordstrom Rack. “Our commitment to our Spokane customer hasn’t changed – we’re only changing locations so we can improve our merchandise offering as well as reach more customers. We think having our Rack store at Spokane Valley Plaza will help us do that.”
“Our Spokane Valley Plaza customers will be delighted when Nordstrom Rack opens its doors to serve the market with a larger store than at its previous location,” said Adam Metz, chief executive officer, General Growth Properties. “It is a great addition to the merchandise line-up at Spokane Valley Plaza and Nordstrom has been a terrific partner of GGP’s at numerous of our malls across the country.”
Nordstrom has operated a Nordstrom store in downtown Spokane since 1974 and originally opened a 28,000-square-foot Nordstrom Rack store at Northtown Mall in 2000. General Growth Properties manages both Northtown Mall and Spokane Valley Plaza.
Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers, with 193 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 114 full-line stores, 76 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also serves customers through its online presence at www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
GGP currently has ownership interest in, or management responsibility for, over 200 regional shopping malls in 43 states, as well as ownership in planned community developments and commercial office buildings. The Company’s portfolio totals approximately 200 million square feet of retail space and includes over 24,000 retail stores nationwide. The Company’s common stock is traded on the New York Stock Exchange under the symbol GGP.
SOURCE Nordstrom, Inc.