Nordstrom Rack

Nordstrom will be erecting its second off-price Nordstrom Rack store in Milwaukee. The Seattle-based retailer has announced plans for a 26,800-sq.-ft. location at the Bayshore Town Center in the city’s North Shore.   The Nordstrom Rack will be erected on the site of a vacated Sears at the Olshan Properties center, where a Total Wine & More store is also slated to take up some of the space.  

One of the nation's most successful department store retailers may remove itself from the scrutiny and pressure of Wall Street.    

Nordstrom beat the Street on earnings in its first quarter amid strong sales in its off-price division.     Nordstrom said it earned $63 million in the first quarter, compared with $46 million, in the year-ago period. The company earned an adjusted $0.43 a share, beating the $0.27 that analysts were expecting.   Total company net sales increased 2.7% to $3.3 billion. Same-store sales fell 0.8%, worse than expected.  Online sales accounted for 24% of total net sales.  

Nordstrom Inc. reported better-than-expected profit for its fourth quarter amid a strong performance by Nordstrom Rack and cost cuts.    The department store retailer reported that it earned $201 million, or $1.15 per share, for the quarter ended Jan. 28, compared with $180 million in the year-ago quarter. Excluding certain items, the adjusted earnings came to $1.37 per share. Analysts had estimated $1.15 a share on average.  

Nordstrom Rack announced it would open its first Baltimore store at The Shops at Canton Crossing in spring 2019. It will be part of the center’s 90,000-sq.-ft. Phase II addition, which is expected to begin construction in November.  

Nordstrom may be closed on Thanksgiving Day, but a new team of associates will be ready to serve shoppers come Black Friday.    The chain will hire approximately 11,400 seasonal employees that will be trained to serve customers at its Nordstrom and Nordstrom Rack stores, as well as in its fulfillment and distribution centers that support stores, Nordstrom.com, Nordstromrack.com, HauteLook and Trunk Club.   

The Dallas area is getting its sixth Nordstrom Rack store.   Nordstrom said it will open a Nordstrom Rack at The Centre at Preston Ridge in Frisco, Texas. The approximately 33,000-sq.-ft. store is scheduled to open in fall 2017. The property is owned by Brixmor Property Group.  

Nordstrom remains in expansion mode with its Nordstrom Rack division.   A 26,000-sq. ft. Nordstrom Rack is scheduled to open in spring 2017, at CityPlace, a 100-acre, master-planned development in Woodbury, Minn.   The property is owned and managed by Elion Partners, a Florida-based real estate investment firm.