Nordstrom Rack Defies Retail Closure Blues, Plans New Store In Portland
Nordstrom is bucking the pervasive closure trend among retailers, especially department stores, by continuing to expand its off-price brand. This week the company said it will open a new Nordstrom Rack this fall at the Cascade Station shopping center in Portland, where the store will take about 28K SF.
The new Rack will join other tenants at the property near the airport, including Marshall's, DSW, HomeGoods, Best Buy, IKEA and Target. Last month, Seattle-based Nordstrom reported comparable sales at its U.S. Nordstrom department stores dropped 2.9%, but Nordstrom Rack comparable sales more than made up for that by gaining 4.3%; the company also enjoyed gains in online sales.
The new store will be the fifth Nordstrom Rack in the Portland area. Portland was home to the first stand-alone Nordstrom Rack store, which opened in Clackamas in 1983. The company also operates stores in Downtown Portland and Clackamas Town Center.