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Nordstrom boosts profit, revenue 3Q
Seattle -- Nordstrom has surpassed Wall Street estimates with an unexpected jump in profit and sales for the quarter ended Nov. 1. The department store retailer reported a profit of $142 million for the third quarter, up from $137 million in the year-ago period. Sales jumped 9% to $3.14 billion, beating the expected $3.11 billion in revenue. Same-store sales rose 3.9%. -
DDR adds Nordstrom Rack to The Shops at Midtown Miami
Beachwood, Ohio -- DDR Corp. announced the addition of Nordstrom Rack to The Shops at Midtown Miami, a 98% leased, 645,000-sq.-ft. urban, value-oriented power center in Miami.
DDR created space for Nordstrom Rack through its Project Accelerate initiative announced in May of 2014, whereby DDR is recapturing below-market leases from underperforming anchor tenants and backfilling these locations with best-in-class retailers.
