) announced its plans to open 2 new Nordstrom Rack stores, one at
the Belle Isle Station in Oklahoma City, Okla. and the other at
the 901 Market Street property in Downtown San Francisco, Calif.
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Nordstrom announced its entry in Okla. with its first Rack store
in the Belle Isle Station. Enclosing about 34,000 square feet
space, the new store will be located just east of Penn Square
Mall. Occupying the space formerly held by Linens N Things, the
new Rack store will join a mix of vibrant retailers in the mall,
Wal-Mart Stores Inc.
Ross Stores Inc.
), and Old Navy, a brand of
). The store is expected to open to public in fall 2013.
Further, Nordstrom is on track to expand its footprint in San
Francisco with the opening of a new 2-storied Rack store in
Downtown San Francisco by spring 2014. The company's new Rack
store will occupy a portion of the ground floor and the entire
2nd floor, enclosing about 45,496 square feet of the 90,000
square feet retail space in the 901 Market Street lease.
Additionally, the lease, owned by Hudson Pacific Properties Inc.,
comprises 122,000 square feet of office space.
901 Market Street is a centrally located 212,000 square feet
commercial space in Downtown San Francisco, conveniently situated
at the corner of Fifth Street and Market Street, adjoining the
Westfield San Francisco Shopping Centre and the Union Square BART
entrance. The property also enjoys tremendous accessibility from
the Union Square.
Currently, Nordstrom operates a full-line store in Westfield San
Francisco Shopping Centre just across Fifth Avenue on Market
Street. Overall, the company operates 10 full-line stores and 10
Rack stores in Northern Calif.
Nordstrom's Rack stores generally offer merchandise from
Nordstrom stores and Nordstrom.com at a significantly reduced
price to customers. Products at these stores are sold with
discounts of roughly 50% to 60% from the original Nordstrom tags.
Nordstrom Rack also carries a vast assortment of branded apparel,
accessories and shoes that are available at Nordstrom stores, and
are offered to customers at a discount of about 30% - 70%.
Nordstrom's latest store openings signify the company's
commitment to strengthen its network with the aim of driving
top-line growth. As of Apr 4, 2013, Nordstrom operated 242
stores, including 117 Nordstrom full-line stores, 121 Nordstrom
Racks, 2 Jeffrey boutiques, 1 treasure&bond store and 1
clearance store. Nordstrom currently maintains a Zacks Rank #4