Search
 

Nordstrom Continues Cautious Expansion

SEATTLE-Executives want to be sure that sales per square foot will hold up in new locations.

By Debra Hazel | Updated on May 15, 2009

SEATTLE-Nordstrom, which has cut back its store expansion program as new mall development has declined, is waiting for the economy to recover to locate in some new projects, has also executives said at the company’s first-quarter conference call.

Contrary to what many assume, landlord contributions are not the dominant factor in deciding new store locations, said Eric Nordstrom, president of stores.

“The biggest factor is the volume potential of the location,” Nordstrom said. “There are a number of projects that look good to us, but now the volume potential is under our hurdle. When the economy recovers, a number of these could look good again.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.