US: Nordstrom to open first full-line store in New York
Upscale department store operator Nordstrom will open its first full-line department store in New York in 2018.
Extell Development Co will build the 285,000 sq ft seven-storey flagship store on Manhattan's West Side. The company said work on the site could begin as early as the first quarter of next year.
"This has been a long time coming for us, as Nordstrom has sought a NYC location for many years," said Erik Nordstrom, president of stores. "We couldn't be happier about the opportunity to be a part of this terrific development project and feel the location works extremely well for us."
Derek Trulson, international director with Jones Lang LaSalle, who represented Nordstrom in the transaction, added: "New York has not seen a new fashion specialty store of Nordstrom's quality and importance in decades.
"This is a creative real estate deal and build-to-suit that works for Nordstrom as a luxury retailer over the long term."
Nordstrom, which operates 231 stores, last month booked a 2.9% rise in first quarter profit to US$149m helped by strong growth in the consumer direct channel and a double-digit revenue hike.
The following is a general roundup of US apparel and shoe retailers' November 2012 sales results....
US retailers have yet to weigh up the full impact of Hurricane Sandy, which hit the US East coast earlier this week between the back-to-school spending rush and the all-important shopping fest that li...
The following is a general roundup of US apparel and shoe retailers' October 2012 sales results....
A strong end to the back-to-school shopping season contributed to the solid sales results rung up by many US clothing and footwear retailers in September - but economic and political uncertainty conti...
The following is a general roundup of US apparel and shoe retailers' September 2012 sales results....
Growth in men's shoes, men's apparel and children's apparel helped clothing retailer Nordstrom to post double-digit increases in third quarter earnings and revenue....
Underwear company Jockey has named Bryan Norfleet as president and chief operating officer. ...
- China tightens on corporate social responsibility
- Marks & Spencer to extend mobile phone monitoring
- Factoring: a lifeline for apparel suppliers?
- Outdoor industry's future must be more inclusive
- Responsible apparel sourcing requires teamwork
- Adidas "Reebok sale" would be admittance of defeat
- New JC Penney CEO “credible but no solution”
- UPDATE: A&F appoints Horowitz to head Hollister
- Bangladesh taps factory inspectors ahead of review
- Coats to open new zip factory in Bangladesh
- Ethiopia – the emerging textile and clothing industry
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Wool in the 21st Century: new prospects for a familiar fibre
- Global market review of denim and jeanswear – forecasts to 2020
- Prospects for the Textile and Clothing Industry in Vietnam