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SOURCE Nordstrom, Inc.
SEATTLE, Jan. 21, 2014 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at West Towne Crossing, a power center adjacent to the West Towne Mall in Madison, Wis. The approximately 30,750-square-foot store is scheduled to open in fall 2014. West Towne Mall and West Towne Crossing are owned and managed by CBL & Associates Properties, Inc. (NYSE: CBL).
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.
This will be the company's second retail location in Wisconsin, about an hour west of Milwaukee. Nordstrom Rack is set to open at the Mayfair Collection in Wauwatosa this spring.
"We're excited to have the opportunity to bring a Nordstrom Rack to Madison and be a part of the community with our new location across from the West Towne Mall," said Geevy Thomas, president of Nordstrom Rack. "We've been looking for ways to better serve our customers living in Wisconsin and are excited to open our doors this fall."
Located off Highway 12/14 at Gammon Road, the new Nordstrom Rack will move into a space formerly occupied by Gander Mountain Outlet and join a strong mix of retailers such as Ulta, Best Buy, Metcalfe's and Kohl's, among others.
"We are excited to announce the addition of Nordstrom Rack to the West Towne Mall campus," said Stephen Lebovitz, president and chief executive officer, CBL & Associates Properties, Inc. "This addition will not only enhance the center by delivering a great retail name, but also demonstrates our commitment to investing in the mall's continued growth."
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 261 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.
About West Towne Mall
West Towne Mall is an 831,199-square-foot shopping center located off Highway 12/14 at Gammon Road. The mall is anchored by Boston Store, JCPenney, Sears and Dick's Sporting Goods. West Towne Mall houses more than 100 specialty retailers and 17 eateries including the Apple Store, Banana Republic, Charming Charlie, Dry Goods, Sephora, Pottery Barn and Williams-Sonoma. For more information, please visit shopwesttowne-mall.com.
About CBL & Associates Properties, Inc.
CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 155 properties, including 96 regional malls/open-air centers. The properties are located in 30 states and total 90.7 million square feet including 10.7 million square feet of non-owned shopping centers managed for third parties. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO. Additional information can be found at cblproperties.com.
CBL & Associates Properties, Inc.
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