Nordstrom Rack to Open at Laguna Hills Mall in Southern California
SEATTLE, Jan. 9, 2008 /PRNewswire-FirstCall/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN), a leading fashion specialty retailer, announced today that it will open a 35,000-square-foot Nordstrom Rack at Laguna Hills Mall in fall 2008.
Nordstrom Rack is the company's off-price retail division offering savings of 30 to 75 percent on apparel, accessories and gifts for men, women and children, including one of the most extensive collections of name-brand shoes available. Nordstrom Rack merchandise is made up of products from Nordstrom full-line stores and the company's online store at Nordstrom.com, as well as special purchase items.
"We are fortunate to have many loyal customers in Orange County, and we're excited to be able to offer them a new Nordstrom Rack," said Scott Meden, president of Nordstrom Rack. "Laguna Hills Mall is a great location and we hope our new store will be a convenient option for customers in the area."
The Nordstrom Rack at Laguna Hills Mall will be the retailer's third Rack in Orange County. Nordstrom also operates Racks at Metro Pointe in Costa Mesa and Union Plaza in Brea.
Laguna Hills Mall is an 867,000-square-foot super-regional shopping center located in Orange County's Laguna Hills. Built in 1973, it has been owned by Simon Property Group since 1997.
"We're thrilled that Nordstrom Rack is going to join us at Laguna Hills Mall," said Mark Palombaro, senior vice president of development at Simon Property Group. "They will be a great addition to this property." The new Nordstrom Rack will be located on the west side of the mall in the building that formerly was home to Wow (The Good Guys and Tower Records/Video concept store).
In addition to its Rack stores, Nordstrom also operates five full-line stores in Orange County at South Coast Plaza in Costa Mesa, Brea Mall, Main Place Mall in Santa Ana, The Shops at Mission Viejo, and Irvine Spectrum.
Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate company. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers(R), The Mills(R), community/lifestyle centers and international properties. It currently owns or has an interest in 379 properties comprising 256 million square feet of gross leasable area in North America, Europe and Asia. The Company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG. For further information, visit the Company's website at http://www.simon.com.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 156 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 101 full-line stores, 50 Nordstrom Racks, two Jeffrey boutiques, one freestanding shoe store and two clearance stores. Nordstrom also serves customers through its online presence at http://www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
MEDIA CONTACTS: Nichole Shell
Nordstrom, Inc.
(206) 373-3036
Les Morris
Simon Property Group
(317) 263-7711
SOURCE Nordstrom, Inc.
01/09/2008
CONTACT: Nichole Shell of Nordstrom, Inc., +1-206-373-3036; or Les
Morris of Simon Property Group, +1-317-263-7711
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Web site: http://www.nordstrom.com
http://www.simon.com