February 18, 2009

Nordstrom "Rack" to open in Lakewood Center in Fall 2010

According to a press release dated Feb 18, 2009 Nordstrom, Inc. announced it will open a 33,400-square-foot Nordstrom Rack, a unit of the company's off-price retail division, at Lakewood Center in fall 2010. This will be the fourteenth Nordstrom Rack in the greater Orange County/Los Angeles area, including three new Rack stores scheduled to open in 2009 and 2010. The company also operates 16 Nordstrom stores in the Orange County/Los Angeles area, including a store at Los Cerritos Center in Cerritos, Calif. that will relocate to a brand new store within the mall in spring 2010. Nordstrom Rack is the company's off-price retail division offering savings of 30 to 70 percent on apparel and accessories. Apparently Lakewood is not upscale enough for a "regular" Nordstrom. Really, we assume it is only because Cerritos got theirs first and Lakewood's gamble on the Macy's store did not pay off. Oh well in this recession a "discount" Nordstroms will likely do better than a full price Nordstrom. But who knows what the economy will be like 2 years from now when it finally opens. No word on if a new store will be built or if it will occupy some existing space. Likely the former. Plus that will create JOBS! Also this appears to be a deal between the mall owner Macerich and Nordstroms and has nothing to do with any actions taken by the city council.

Lakewood Accountability Action Group™ LAAG | www.LAAG.us | Lakewood, CA
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