The new Nordstrom Rack will occupy a portion of the existing Sears on the ground level located off Virginia Beach Boulevard and Independence Boulevard. The mall's current anchor tenants include Target, Kohl's and Steinmart. Sears will continue to occupy a position on the primary floor of the existing store. Sears Holdings also signed a lease with DSW for an adjacent store that will soon open at the mall.
On the same day Nordstrom also announced plans to relocate its Rack store at The Overlook at King of Prussia to the King of Prussia Town Center. The Rack will move into a 35,000-square-foot space and is scheduled to open in fall 2016. The property is being developed by JBGR Retail and is slated for ground breaking in 2015.
The new Nordstrom Rack will join retailers including Wegmans and ULTA Beauty. King of Prussia Town Center is conveniently located at the crossroads of four major highways – Routes 202 and 422, the Schuykill Expressway and the Pennsylvania Turnpike. The center is adjacent to King of Prussia Mall where Nordstrom has operated a full-line store since 1996.
On February 13, 2015 Nordstrom announced, that its board of directors approved a quarterly dividend of 37 cents per share, an increase of 12% over the previous quarter’s dividend, payable on March 13, 2015 to shareholders of record at the close of business on February 27, 2015.
On a more fashionable note, below you will find an appealing shopping opportunity at Nordstrom.
Earrings: Iridescent Been Studs, $125/CAD 166.14. These enchanting bumblebee earrings are sculpted from hand-painted Lucite and finished with gleaming goldtone plating.
Bracelet: Liquid Metal Paired Bangle, $125. Two connected bangles. Aqua opalescent (with gold); also in fluorescent melon (with gold).
Bracelet: Iridescent Bee Bangle, $125. An enchanting bumblebee setting sleekly details this stackable bracelet handcrafted from luminous Lucite.
Bracelet: Skinny Tapered Bangle, $70/CAD 55.8. This vividly hand-painted bangle is handcrafted from luminous Lucite.
Bracelet: Orchid Bypass Bangle, $295. A pearly luster radiates from the hand-sculpted flowers completing this gorgeous, artistic bracelet that's filled with Swarovski sparkle too.
Learn more about the fashion and jewelry available at Nordstrom.
On 2/13/15 Nordstrom also announced the appointment of Shellye L. Archambeau, MetricStream, Inc. chief executive officer, to the company's Board of Directors. Her addition brings the total number of directors to 13, ten of whom serve as independent directors. Nordstrom directors serve one-year terms and the company requires annual elections of all Board members.
Prior to joining MetricStream in 2002, Ms. Archambeau was Chief Marketing Officer and Executive Vice President of Sales for Loudcloud, Inc., a leader in Internet infrastructure services, Chief Marketing Officer of NorthPoint Communications and President of Blockbuster Inc.'s e-commerce division. Before joining Blockbuster, she held domestic and international executive positions during a 15-year career at IBM.
By the way, the month is not yet over. Nordstrom will most likely have more exciting news coming soon.
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