Nordstrom Rack to Open Second Las Vegas Valley Location
SEATTLE, Sept. 17, 2013 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a second Las Vegas area Nordstrom Rack in Summerlin. The approximately 36,000-square-foot store is scheduled to open in fall 2014 at The Shops at Summerlin, a 1.6 million-square-foot mixed-use development of The Howard Hughes Corporation (NYSE: HHC) that will launch the downtown of the acclaimed master planned community.
Nordstrom Rack is the off-price retail division of Nordstrom, Inc., offering customers a wide selection of on-trend apparel, accessories, and shoes at an everyday savings of 30-70 percent off regular prices. The Rack carries merchandise from Nordstrom stores and Nordstrom.com and specially purchased items from many of the top brands sold at Nordstrom.
"We've known for a long time that we wanted to be in Summerlin," said Geevy Thomas, president of Nordstrom Rack. "The Shops at Summerlin is a great fit for the Rack and we're excited about this opportunity to bring our take on the ultimate treasure hunt to customers in the western Las Vegas valley."
Located at the intersection of I-215 and Sahara Avenue, The Shops at Summerlin will serve the entire Las Vegas Valley with over 125 shops and restaurants in an open air-shopping environment. The Rack will join a growing list of retailers and restaurants filling out the development.
Currently, Nordstrom serves customers at two Las Vegas area locations: a full-line store at Fashion Show Mall and a Nordstrom Rack at Stephanie Street Center.
"Nordstrom Rack is a favorite among shoppers in the Las Vegas Valley and will serve as an outstanding addition to The Shops at Summerlin, one of the premier regional retail sites in the U.S.," said Kevin Orrock, president of Summerlin and vice president of master planned communities for The Howard Hughes Corporation. "Retailer response to the project has been tremendous as we work to create an unrivaled shopping, dining and entertainment hub for our Downtown Summerlin."
About The Shops at Summerlin
The Shops at Summerlin, one of the premier regional mixed-use development sites in the U.S., will be part of a planned urban center which will serve the entire Las Vegas Valley with over 125 shops and restaurants in an open-air shopping environment. The 106-acre, 1.6 million-square-foot mixed-use development along the Clark County 215 Beltway is located only 15 minutes from the Las Vegas Strip and Airport. When complete, The Shops at Summerlin will include retail, office and entertainment, designed to create a vibrant, walkable downtown in the heart of the affluent 22,500-acre master planned community. With over 100,000 residents today, the ever-increasing population in the Summerlin master planned community is expected to double to 200,000 when completed.
Nordstrom, Inc. is one of the leading fashion specialty retailers based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 252 stores in 34 states, including 117 full-line stores, 132 Nordstrom Racks, two Jeffrey boutiques 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.
About The Howard Hughes Corporation
The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 18 states from New York to Hawai'i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC and is headquartered in Dallas, TX. For additional information about HHC, visit www.howardhughes.com.
Statements made in this press release that are not historical facts, including statements accompanied by words such as "will," "believe," "expect," "enables," "realize", "plan," "intend," "transform" and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation's filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.
The Howard Hughes Corporation
SOURCE Nordstrom, Inc.