SEATTLE, Nov. 1, 2012 /PRNewswire/ -- Seattle-based Nordstrom, Inc., (NYSE: JWN) announced today plans to relocate its Promenade at Howard Hughes Center Nordstrom Rack in Los Angeles to Westfield Culver City in Culver City, Calif. The new 37,675-square-foot store is expected to open in fall 2013.
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.
The new one level Nordstrom Rack store will sit just across the freeway from its current location and will remain conveniently located off Interstate 405. The relocated store will occupy space on the second level adjacent to the JC Penney court, and will feature an interior entrance as well as a new exterior entrance that's convenient to the center's main surface parking area. Westfield Culver City is a 1.1 million-square-foot enclosed retail destination offering customers a variety of shopping choices and free, accessible parking. The center includes a mix of retail and restaurant tenants including, Macy's, Target, Victoria's Secret and BJ's Restaurant and Brewhouse. The center is owned and managed by the Westfield Group.
"Howard Hughes Center has been a terrific home to us since we first opened there in 2001 and we're thankful for the business," said Geevy Thomas, president of Nordstrom Rack. "As we look to better serve our customers, it's important that we continue taking advantage of the best real estate opportunities available and we believe Westfield Culver City will help us create a new and exciting shopping experience for our customers."
"Westfield Culver City is thrilled to welcome Nordstrom Rack to the shopping center. We could not be more excited about this fantastic new arrival, and have no doubt our customers will enthusiastically welcome Nordstrom Rack as well," said Sarah Vasquez, Westfield's senior vice president of management for the LA region.
Westfield Culver City is owned by the Westfield Group (ASX: WDC), an internally managed, vertically integrated shopping center group undertaking ownership, development, design, construction, funds/asset management, property management, leasing and marketing activities and employing in excess of 4,000 staff worldwide. The Group has investment interests in 105 shopping centers across Australia, New Zealand, the United Kingdom, United States and Brazil, encompassing approximately 22,800 retail outlets and total assets under management of $62.9 billion. In the U.S., the Group's 47 shopping centers are home to more than 7,900 specialty stores and comprise approximately 56 million square feet of leasable space in California, Connecticut, Florida, Illinois, Indiana, Maryland, New Jersey, New York, North Carolina, Ohio and Washington.
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 under the symbol JWN.
SOURCE Nordstrom, Inc.