SEATTLE, March 27, 2012 /PRNewswire/ -- Seattle-based Nordstrom, Inc., (NYSE: JWN) announced today plans to open a new Nordstrom Rack at Huntington Shopping Center in Huntington, N.Y. The approximately 36,000-square-foot store is scheduled to open during fall 2012.
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.
Huntington Shopping Center is a large power center located in the Long Island community of Huntington, 11 miles east of the Roosevelt Field full-line Nordstrom store and Westbury Nordstrom Rack location, which later this year will relocate to The Gallery at Westbury Plaza. The new Huntington Nordstrom Rack will join anchor tenants Bed Bath & Beyond, Buy Buy Baby, Michaels, PetSmart and Toys "R" Us. The center is owned and managed by Federal Realty Investment Trust.
"We think Nordstrom Rack is a best in class retailer and will provide the fashion and brand savvy shopper with a fantastic retail experience in their new location at Huntington Shopping Center," said Wendy Seher, vice president of leasing for Federal Realty.
"We've been on Long Island for 15 years and are fortunate to have a lot of great customers in the community," said Geevy Thomas, president of Nordstrom Rack. "We hope our new store at Huntington Shopping center will offer them a more convenient way to shop with us."
About Federal Realty Investment Trust
In 2012, Federal Realty celebrates 50 years of being a proven leader in the ownership, operation, and redevelopment of high quality retail real estate in the country's best markets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 19.3 million square feet located primarily in strategically selected metropolitan markets in the Northeast and Mid-Atlantic regions of the United States, as well as in California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 93.4% leased to national, regional, and local retailers as of December 31, 2011, with no single tenant accounting for more than approximately 2.5% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 44 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT. For more information, please visit www.federalrealty.com.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 226 stores in 30 states, including 117 full-line stores, 105 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.
SOURCE Nordstrom, Inc.