Nordstrom is expanding its Nordstrom Rack store fleet.
Nordstrom is continuing to grow its off-price store concept.
The department store retailer is opening two new Nordstrom Rack locations in fall 2022. The stores will be located in Phoenix, and in Riverside, Calif.
Nordstrom Rack's new store in Phoenix will be located in Desert Ridge Marketplace, a 1.2 million-square-foot open-air shopping, dining, and entertainment center featuring other retailers including Nike Unite, Ulta, and Barnes & Noble, in addition to entertainment venues like AMC Theatres and Dave & Busters, as well as over 35 dining destinations. Desert Ridge Marketplace is owned and managed by Phoenix-based Vestar. The 23,500-sq.-ft. store is scheduled to open in fall 2022.
"We are thrilled to be welcoming Nordstrom Rack to Desert Ridge Marketplace," said Jenny Cushing, Vice President of Leasing for Vestar. "The Nordstrom brand is synonymous with exceptional quality, selection, and customer service and has been the most highly requested concept among our customers for years. We are confident that Nordstrom Rack is the perfect complement to our already stellar tenant mix."
Nordstrom Rack's new Riverside, Calif. store will be located in Canyon Springs Marketplace, a retail hub that serves the cities of Riverside and Moreno Valley and features retailers including Petco, Best Buy, Hobby Lobby, Target, and Old Navy. The 30,000-sq.-ft. store is scheduled to open in fall 2022 and is managed by TDA Investment Group.
"We are excited to welcome Nordstrom Rack to Canyon Springs Marketplace! Joining the quality retailers at the Center including Old Navy, Petco and Big Lots, Nordstrom Rack will complement and enhance the shopping experience at the center and the greater Riverside Community," said Amy Goldfarb, VP of asset management at TDA Investment Group.
"We're excited to strengthen our presence in these two important markets, and to continue bringing our customers the brands they love at the best prices," said Geevy Thomas, president of Nordstrom Rack. "Our new Desert Ridge Marketplace location marks our ninth Nordstrom location in the greater Phoenix community, while Canyon Springs will be our thirty-fifth store in greater Los Angeles. We look forward to introducing our offerings to new customers and bringing them even closer to those we already serve."
Nordstrom Rack is the off-price retail division of Nordstrom, Inc., offering customers up to 70% off on apparel, accessories, beauty, home, and shoes from many of the brands sold at Nordstrom stores. The Rack carries merchandise from Nordstrom's stores and e-commerce sites, as well as specially purchased items from many of the brands sold at Nordstrom.
According to Nordstrom, The Rack is its largest source of new customers. However, in December 2021, media reports indicated the company had hired AlixPartners to help it review a possible spinoff of Rack into a separate company. For the quarter ended Oct.30, 2021, Nordstrom reported that Rack sales fell 8% compared to the third quarter of 2019. The retailer said it was “taking action” to improve performance at Rack, including optimizing inventory levels, better balancing price points and increasing brand awareness.
Founded in 1901 and headquartered in Seattle, Nordstrom operates over 350 Nordstrom, Nordstrom Local and Nordstrom Rack locations, as well as digitally through its apps and websites.