Nordstrom Rack to Open In Birmingham, Ala.
SEATTLE, Nov. 2, 2012 /PRNewswire/ -- Seattle-based Nordstrom, Inc ., (NYSE: JWN) announced today plans to open a Nordstrom Rack in Birmingham, Ala. This will be the retailer's first location in the state. The approximately 35,000-square-foot store is scheduled to open in spring 2013 at River Ridge Shopping Center.
Nordstrom Rack is the off-price retail division of Nordstrom, Inc., carrying on-trend merchandise from Nordstrom stores and Nordstrom.com at 50 to 60 percent 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. These items are purchased specially for Nordstrom Rack, with most at savings of 30 to 70 percent off.
"We're excited to bring Nordstrom Rack to Alabama," said Geevy Thomas, president of Nordstrom Rack. "For some time now we've been looking for ways to better serve our customers in this community, which makes it rewarding to have this opportunity to open a Rack at such a terrific location. We hope to help lots of customers in Birmingham starting next spring."
River Ridge Shopping Center is a 350,000-square-foot power center located south of the city, and sits directly on US-280 with close proximity to The Summit mall. The new Nordstrom Rack will occupy a former Linens 'n Things space and join a strong line-up of tenants including Target, Best Buy, Cost Plus, Staples, and Men's Warehouse among others. The center is owned and operated by DDR Corp.
"The addition of Nordstrom Rack enhances the tenant mix at River Ridge with top brand merchandise at discount prices," said Paul Freddo, senior executive vice president of leasing and development at DDR. "This is another example of our strategy to align with high quality retailers and we look forward to a successful ongoing partnership with Nordstrom."
About DDR Corp.
DDR is an owner and manager of 459 value-oriented shopping centers representing 116 million square feet in 39 states, Puerto Rico and Brazil. The company's assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the company is available at www.ddr.com.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 238 stores in 31 states, including 117 full-line stores, 117 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store. Nordstrom also serves customers through Nordstrom.com and through its catalogs. Additionally, the Company operates in the online private sale marketplace through its subsidiary HauteLook. Nordstrom, Inc.'s common stock is publicly traded on the NYSE (NYX) under the symbol JWN.
SOURCE Nordstrom, Inc.