US department store operator Nordstrom has announced plans to open its New York concept store called Treasure & Bond on Friday.

The retailer said today (18 August) that the store will donate 100% of its profits to charities benefiting children in New York City. For the store's first-quarter, it will support the New York Public Library programmes for children and young adults, and the Achievement Gap Project.

The company said that Treasure & Bond will be independently operated from Nordstrom and that it is "not a mini-Nordstrom".

The retailer described its offer as a "curated inventory from resources all over the globe that appeals to a variety of tastes, interests and budgets".

It will offer some 150 brands across gift, home wares, and clothing for men, women and children. The 11,137 square foot store is located at 350 West Broadway.

Nordstrom currently operates a Nordstrom Rack store in the city, which offers cut-price apparel and shoes. It does not yet have a department store in New York City.