SEATTLE, Nov. 23 /PRNewswire-FirstCall/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced plans to open its first Nordstrom Rack in North Carolina. The new 33,000-square-foot store will be located at Renaissance Center in Durham. The store is expected to open in fall 2010.
Nordstrom Rack, a unit of the company's off-price retail division, carries merchandise from Nordstrom stores and Nordstrom.com at 50-60% 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 and purchased specially for Nordstrom Rack, with most at savings of 30-70% off.
The Nordstrom Rack store will be located between Cost Plus World Market and Pier 1 Imports, and will join other retailers at Renaissance Center such as REI, Old Navy, Babies"R"Us and Best Buy. The center is located across the road from The Streets of Southpoint mall, where Nordstrom has operated a full-line store since 2002. Renaissance Center is owned and managed by CBL & Associates Properties, Inc. (NYSE: CBL).
"We are excited about this opportunity to open a Nordstrom Rack in the Raleigh/Durham area and provide our customers with another way to shop with us," said Scott Meden, president of Nordstrom Rack. "Renaissance Center is a convenient, easily-accessible shopping destination with an outstanding mix of retailers. This is a great location for our first Nordstrom Rack in North Carolina."
"We are pleased to announce the addition of another terrific shopping option to our community center in Durham," said Jan Wills, vice president - leasing for CBL & Associates Properties, Inc. "Nordstrom Rack is a great shopping destination that will truly complement the attractive retailer lineup at Renaissance Center. We are excited to continue to deliver on our goal of enhancing our shopping properties."
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 184 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 112 full-line stores, 69 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also serves customers through its online presence at www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
CBL & Associates Properties, Inc. is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 163 properties, including 88 regional malls/open-air centers. The properties are located in 27 states and total 87.8 million square feet including 3.0 million square feet of non-owned shopping centers managed for third parties. CBL currently has one project under construction totaling 500,000 square feet, The Pavilion at Port Orange in Port Orange, FL. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO. Additional information can be found at cblproperties.com.
CBL & Associates
SOURCE Nordstrom, Inc.
Colin Johnson of Nordstrom, Inc., +1-206-373-3036; or Katie Reinsmidt of CBL & Associates Properties, Inc., +1-423-490-8301