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4-Traders Homepage  >  Equities  >  Nyse  >  Nordstrom, Inc.    JWN

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Nordstrom, Inc. : Nordstrom Rack Expands Store Presence In Chicago

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03/08/2013 | 07:10pm CEST

SEATTLE, March 8, 2013 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at The Maxwell in Chicago, Ill. The approximately 36,500-square-foot store is scheduled to open in 2014.

Nordstrom first came to Chicagoland in 1991 with the opening of its Oakbrook Center full-line store, and went on to open several more stores throughout the Midwest. Today, the company operates four full-line and seven Rack stores in the Chicago area.

"We're excited to have the opportunity to further grow our downtown Chicago presence with our new location at The Maxwell," said Geevy Thomas, president of Nordstrom Rack. "We're grateful for the tremendous response we've had from our Chicago area customers ever since we arrived here. We want to be a part of compelling locations across the country and are looking forward to getting our doors open so that we can help more customers in the South Loop neighborhood."

The 230,000 square-foot Maxwell project will be located within the South Loop neighborhood of Chicago, north of the intersection of Canal Street and Roosevelt Road. The new Nordstrom Rack will occupy a commanding street level space with easy accessibility from Roosevelt Road, and join a vibrant retail mix at the center. The new store will be located just two miles south of the State Street Rack store.

"We could not be more delighted to have Nordstrom Rack as a lead anchor in The Maxwell. This store reinforces the confidence they have demonstrated in the Chicago marketplace. Nordstrom Rack is a leader in its peer group and a best in class retailer. The Rack is a great addition to the South Loop as this area continues to evolve as a prominent retail corridor serving more than 15 Chicago neighborhoods," said Robert J. Bond, president of the Bond Companies, developer of The Maxwell.

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.

About Bond Companies
The development is a joint venture between Bond Companies, a leading retail and mixed use development company based in Chicago, and Bucksbaum Retail Properties, a fully integrated owner and developer of urban oriented retail real estate.

About Nordstrom
Nordstrom, Inc. is one of the leading fashion specialty retailers based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 240 stores in 31 states, including 117 full-line stores, 119 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.

MEDIA CONTACTS:
Megan Garvey
Nordstrom, Inc.
(206) 303-3019

Robert J. Bond
Bond Companies
(312) 853-0070

(Logo: http://photos.prnewswire.com/prnh/20001011/NORDLOGO)

SOURCE Nordstrom, Inc.

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