SEATTLE, July 16, 2014 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN)
announced today plans to open a Nordstrom Rack at The Shops at
Knollwood in St. Louis Park, Minn.
The approximately 33,000-square-foot store is scheduled to open in
spring 2015. The property is owned and managed by Rouse Properties
Inc.
Nordstrom Rack is the off-price
retail division of Nordstrom, Inc., offering customers a wide
selection of on-trend apparel, accessories and shoes at an everyday
savings of 30-70 percent off regular prices. The Rack carries
merchandise from Nordstrom stores and Nordstrom.com and
specially-purchased items from many of the top brands sold at
Nordstrom. The Rack is designed to provide the ultimate treasure
hunt to style-savvy customers.
Recently rebranded The Shops at Knollwood, Rouse Properties
launched an extensive redevelopment project in an effort to
modernize and improve the shopping environment. The new Rack store
will open in a renovated portion of the center alongside a mix of
retailers including Kohl's, DSW, Old Navy, T.J. Maxx Home Goods and Cub Foods.
"We're excited to have the opportunity to expand our presence in
Minnesota and better serve our
customers by opening an additional Nordstrom Rack in the
Twin Cities," said Geevy Thomas, president of Nordstrom Rack. "Our new store will offer
customers in the surrounding communities of Minnetonka, Edina, Hopkins and south Minneapolis an additional way to shop for the
Nordstrom brands they love at great prices."
This will be the third Rack store in Minnesota with existing Rack stores in
Bloomington at Mall of America and
at Arbor Lakes in Maple Grove. The
company also operates one full line store at Mall of America and
will open a second Nordstrom at Ridgedale Shopping Center in the
fall of 2015.
"As one of the nation's most sought-after retailers, we are
pleased that Nordstrom Rack will
make The Shops at Knollwood its newest Minnesota location," said Andrew Silberfein, president and chief executive
officer of Rouse Properties. "The Rack is a valuable addition to
the center's retailer and merchandising mix as we complete our
transformation of The Shops at Knollwood into an upscale and highly
appealing shopping destination. We are excited to welcome the Rack
next spring and to be able to offer consumers in the Greater Minneapolis area a more contemporary
shopping experience with today's best brands and selection."
About Nordstrom
Nordstrom, Inc. is a leading fashion specialty retailer based in
the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 271 stores
in 36 states, including 117 full-line stores, 151 Nordstrom Racks,
two Jeffrey boutiques, and one clearance store. Nordstrom also
serves customers through Nordstrom.com, the newly developed
e-commerce site Nordstromrack.com, and its online private sale
site, HauteLook. Nordstrom, Inc.'s common stock is publicly traded
on the NYSE under the symbol JWN.
About Rouse Properties Inc.
Rouse Properties, Inc. (NYSE:RSE) is a publicly traded real
estate investment trust headquartered in New York City and was founded on a legacy of
innovation and creativity. Among the country's largest publicly
traded regional mall owners, the Company's geographically diverse
portfolio spans the United States
from coast to coast.
MEDIA CONTACTS:
Naomi Tobis
Nordstrom, Inc.
(206) 303-4250
naomi.tobis@nordstrom.com
Missy Heanue
Rouse Properties Inc.
(646) 755-7088
melissa.heanue@rouseproperties.com
Photo - http://photos.prnewswire.com/prnh/20130222/SF64843
Photo - http://photos.prnewswire.com/prnh/20001011/NORDLOGO
SOURCE Nordstrom, Inc.