Nordstrom moving to the Galleri
By Gail Appleson
ST. LOUIS POST-DISPATCH
11/21/2006
Nordstrom Inc. said Monday that it has agreed to open a store in the St. Louis Galleria in 2010, giving the mall a prestigious anchor that appeals to more-affluent shoppers.
The announcement puts to rest months of speculation that the upscale retailer was serious about taking the space in the Richmond Heights mall that was once the Lord & Taylor store. The mall's other anchors are Macy's and Dillard's.
Seattle-based Nordstrom also operates a store in Westfield West County Mall in Des Peres. Although there have been rumors that Nordstrom might close that location when it moves into the Galleria, the retailer said it planned to stay.
"We have no plans to close our store in West County," said Deniz Anders, a Nordstrom spokeswoman. "It is not unusual for us to have several stores in close proximity." Advertisement
She said the store opening is several years away because Nordstrom plans to demolish the existing structure and build anew. The new store will have 140,000 square feet, Anders said, making it an average-sized Nordstrom store. The former Lord & Taylor store had 115,000 square feet of space.
Anders would not comment on whether Nordstrom bought or is leasing the site of the new store.
The retailer's announcement covers agreements it reached with General Growth Properties Inc., owner of the Galleria, to open three new stores nationwide. The other two are in Newark, Del., and Cincinnati.
"This is a great opportunity for General Growth and Nordstrom to work together in creating an unparalleled lineup of retail in these markets," John Bucksbaum, chief executive of General Growth, said in a statement.
General Growth is the second-largest U.S.-based publicly traded real estate investment trust. It has an ownership interest in or management responsibility for a more than 200 shopping centers in 44 states.
Nordstrom has 156 stores in 27 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 99 full-line stores, 49 Nordstrom Racks, five Faconnable boutiques in the United States, one free-standing shoe store, and two clearance stores. Nordstrom also operates 35 Faconnable boutiques in Europe.
The Galleria space that will house Nordstrom opened as a Lord & Taylor in 1991. The Lord & Taylor stores in the Galleria and West County malls were closed by Federated Department Stores Inc., after it acquired the former parent company, May Department Stores Co. Federated said the two St. Louis-area Lord & Taylor stores were under-performing.
Westfield Group, which owns the West County Mall, has announced that the Lord & Taylor space would be converted into two new restaurants and several shops. Westfield plans to complete the project in time for the 2007 holiday shopping season
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