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SOURCE Nordstrom, Inc.
SEATTLE, Feb. 19, 2014 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at Redfield Promenade in Reno, Nev. The store, approximately 31,000-square-foot in size, is scheduled to open in spring 2015. Redfield Promenade is owned and operated by Kimco Realty Corp.
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, as well as 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.
The first Nordstrom Rack originally opened in Las Vegas, Nevada in 2001 at Silverado Ranch Plaza and relocated to Stephanie Street in 2011. Nordstrom has also operated a full-line store at Fashion Show Mall in Las Vegas since 2002.
"We're thrilled to bring a Nordstrom Rack to the Reno community," said Geevy Thomas, president of Nordstrom Rack. "This central retail location at Redfield Promenade is a good fit for us and we look forward to offering customers access to fashion at great prices when we open our doors next year."
The new Nordstrom Rack will be located at Redfield Promenade, a 147,000-square-foot shopping center which sits in the densest retail area of Reno. The center is situated at the highly trafficked intersection of US-395, Kietzke Lane and South Virginia Street. The new store will move into a former Borders Books and join anchor tenants such as Bed Bath & Beyond and Cost Plus World Market. In addition, the center has several food service-oriented uses including Claim Jumpers, Ijji Sushi and Costa Vida Fresh Mexican Grill.
"We are pleased to have Nordstrom Rack as a tenant at Redfield Promenade, which represents the retailer's twelfth location within our portfolio," said Conor Flynn, executive vice president and chief operating officer of Kimco. "The reconfiguration of the center to accommodate the new Nordstrom Rack store highlights the success of our redevelopment strategy in helping to attract best-in-class retailers to our centers and enhance the shopping experience for our customers."
Nordstrom, Inc. is one of the leading fashion specialty retailers based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 260 stores in 35 states, including 117 full-line stores, 140 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also serves customers through Nordstrom.com and in the online private sale marketplace, HauteLook. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America's largest portfolio of neighborhood and community shopping centers. As of December 31, 2013, the company owned interests in 852 shopping centers comprising 125 million square feet of leasable space across 42 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company's blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
David F. Bujnicki
Vice President, Investor Relations and Corporate Communications
Kimco Realty Corporation
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