Nordstrom Rack To Open Third Store On Long Island
SEATTLE, Oct. 17, 2012 /PRNewswire/ -- Seattle-based Nordstrom, Inc., (NYSE: JWN) announced today plans to open a new Nordstrom Rack on Long Island at Manhasset Center, which is owned and operated by Kimco Realty Corp. (NYSE: KIM). The approximately 32,000-square-foot store will be the retailer's third Nordstrom Rack location on Long Island and is scheduled to open in fall 2013.
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.
The new two-level Nordstrom Rack will move into the former Filene's Basement location at Manhasset Center and will occupy space on both the ground and second level. The 189,000-square-foot shopping center is conveniently located off Northern Boulevard and features regional grocer King Kullen, and retailers Marshalls and Michaels.
"We're excited about the opportunity to open our third Nordstrom Rack on Long Island at a terrific location in the Manhasset community," said Geevy Thomas, president of Nordstrom Rack. "It's important that we continue to look for ways to serve our customers more conveniently and we hope this new Rack will help us do just that."
"We are pleased to have Nordstrom Rack as a tenant at Kimco's Manhasset Center, and are confident that the new Rack store will be a dynamic addition to the center," said Michael Pappagallo, executive vice president and chief operating officer of Kimco. "This latest store represents our ninth location with the company, and further enhances our strong partnership with this upscale fashion retailer."
Nordstrom Rack will open two New York stores at 9 a.m. Thursday, October 18 including its second store on Long Island at Huntington Shopping Center, and a relocated store in White Plains at City Center. Nordstrom Rack also opened a relocated store at Gallery at Westbury Plaza, which opened in September.
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America's largest portfolio of neighborhood and community shopping centers. As of June 30, 2012, the company owned interests in 926 shopping centers comprising 136 million square feet of leasable space across 44 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company's blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 237 stores in 31 states, including 117 full-line stores, 116 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.
David F. Bujnicki
Kimco Realty Corporation
SOURCE Nordstrom, Inc.
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