This post is not about a present you can get someone or yourself today, but it is about the dream of one as early as next fall in the sparkly, magical, concrete jungle of New York City.
Last Thursday the press (New York Magazine, The Seattle Times, The Chronicle of Philanthropy, NBC’s Thread blog, Luxist, and USA Today – their Kindness blog is news to me and definitely worth a visit) was abuzz with reports of a new store coming into SoHo at an RFR Realty-owned 350 West Broadway site. It will be brought to us by Nordstrom, and ALL of the proceeds will go to charity.
It seems that Nordstrom is still working out which charities will benefit. But analysts are already pointing out some of the economic benefits. Said one, according to the Seattle Times, Nordstrom’s hometown paper, “The Rack [Nordstrom’s only store in New York – a discount shop] gives you an idea of the magnitude of traffic in New York and the logistics of replenishing inventory, but I’d imagine it’s a much different customer who walks into a Rack than would be walking into a Nordstrom in New York…Not far from where the new concept store is going, you have Chanel, Prada and all the high-end luxury brands….You can rationalize it from a market-research standpoint.” And the Seattle Times pointed out, “Shares of Nordstrom stock Thursday gained 47 cents to close at $38.73, in the midrange of its trading during the past year.” This morning’s most recent trade was at $38.82.
Thanks to my stylish friend Kyle, who always has her finger on the pulse, for the hot tip. I am headed to the city for a close friend’s 30th on Saturday, and may have to snoop around the site for her!
I think Mr. Nordstrom would be proud of how far his company has come.