Nordstrom announces plans to close Lloyd Center and Vancouver Mall stores.

[PapaG]

I had crackaz in my soup tonight.

Soup 'r Crackers!

[video=youtube;h-ElqPW2ZSE]

 

[maxiep]

List of new Nordstroms stores: http://about.nordstrom.com/ourstores/openings/openings.asp

They seem to be doing fine. Many are racks but hey are still opening new stores. Its more indicative of the potential growth in that area. These small box retailers like h&m are suffering brand dilution due to competition.

The newer upscale department stores have been partnering with upscale retailers to open up mini boutiques within their store. For example, the downtown Nordstroms has Gucci inside. Newer stores have a topshop/topman inside them. The better stores evolve (unless they are run into the ground by idiots like JC Penney)

What does it tell you that Nordstrom is abandoning their traditional model? When the leases roll over on their large stores, you'll see many break them up. It's been happening in malls all over the country.

 

[BigGameDamian]

Nobody shops at Nordy's anyways. Its all about the Rack

It's getting to be that way.

 

[EL PRESIDENTE]

What does it tell you that Nordstrom is abandoning their traditional model? When the leases roll over on their large stores, you'll see many break them up. It's been happening in malls all over the country.

It tells me that they are a company that is not scared to evolve. The only stores that close will be stores in areas that suck, and that includes Vancouver Mall and Lloyd Center. Those are going to become ghost towns or basically collections of discount stores. Shopping areas need a good anchor store. It helps the area greatly. You can set up ministores anywhere, but if you want a central entertainment district with shops, you need an anchor.

 

[maxiep]

It tells me that they are a company that is not scared to evolve. The only stores that close will be stores in areas that suck, and that includes Vancouver Mall and Lloyd Center. Those are going to become ghost towns or basically collections of discount stores. Shopping areas need a good anchor store. It helps the area greatly. You can set up ministores anywhere, but if you want a central entertainment district with shops, you need an anchor.

Of course they're evolving: Away from relying on massive anchor locations. I'm glad we agree.

 

[EL PRESIDENTE]

Of course they're evolving: Away from relying on massive anchor locations. I'm glad we agree.

If that were true, they would not be opening new stores.

 

[maxiep]

If that were true, they would not be opening new stores.

Sure they would. You're discounting the stickiness variable in real estate transactions.

I've financed more than a few regional malls in my time, and I'm telling you the mall owners are pretty freaked about the decline of the anchor store.

 

[EL PRESIDENTE]

Sure they would. You're discounting the stickiness variable in real estate transactions.

I've financed more than a few regional malls in my time, and I'm telling you the mall owners are pretty freaked about the decline of the anchor store.

Yeah, in depressed areas in which the community doesn't have the demographics to support. Face it, NE Portland isn't going to ever develop in the vision that most major retailers will want it. First Trader Joe's and now the end of Nordstroms. Nordstroms is a niche store, they serve an upscale clientele.

This closure is more a reflection of the community than it is about Nordstrom.

 

[maxiep]

Yeah, in depressed areas in which the community doesn't have the demographics to support. Face it, NE Portland isn't going to ever develop in the vision that most major retailers will want it. First Trader Joe's and now the end of Nordstroms. Nordstroms is a niche store, they serve an upscale clientele.

This closure is more a reflection of the community than it is about Nordstrom.

Nordstrom has become a niche store. It didn't used to be that way. It used to be a solid middle to upper middle class market segment store. The fragmenting of retail forced that evolution. Now, Nordstrom competes downmarket with the Rack and further upmarket with their main department store. They've been shoved out of their previous, larger segment. Now, they're what Neiman Marcus, Saks and I Magnin were two decades ago.

Nordstrom aside, the larger point is that anchor retail in regional malls is a dying segment, even with the subsidies provided by the mall owners.

 

[EL PRESIDENTE]

When was this, the 70s? Before my time. But in the 80s, it was higher class than Meier and Frank and Frederick and Nelson.

 

[EL PRESIDENTE]

"We'll just agree to disagree"

HA. I SAID IT FIRST I WIN

 

[MickZagger]

I worked at nordstroms at Washington square and it still remains the best job I've ever had. And nordstrom rack selection blows

Nordstrom Rack is hit or miss. The one downtown sucks.

 

[maxiep]

When was this, the 70s? Before my time. But in the 80s, it was higher class than Meier and Frank and Frederick and Nelson.

I'm talking 80s. It was a step above M&F and F&N, but it wasn't like I Magnin. It sold traditional, high quality stuff. Kind of a Northwest Brooks Brothers.

 

[EL PRESIDENTE]

I don't remember I magin

 

[maxiep]

I don't remember I magin

http://en.wikipedia.org/wiki/I._Magnin

 

[SlyPokerDog]

http://en.wikipedia.org/wiki/I._Magnin

Remember Lipman's as a kid?

 

[maxiep]

Remember Lipman's as a kid?

I do. My mom used to take me to the Washington Square store where Nordstrom now is (before that it was F&N).

 

[MarAzul]

http://en.wikipedia.org/wiki/I._Magnin

Ha! That shows how observant I am. I was unaware they are no longer in business.

 

[SlyPokerDog]

Ha! That shows how observant I am. I was unaware they are no longer in business.

JK Gill's

 

[EL PRESIDENTE]

http://en.wikipedia.org/wiki/I._Magnin

Where was it in Oregon?

hoop fam

 

[EL PRESIDENTE]

I was bout dat Chess King life.

hoop fam

 

[SlyPokerDog]

Jean Machine!

 

[EL PRESIDENTE]

I only liked nordstrom because they carried Generra and t&c surf. Hated Frederick and nelson. So stuffy

hoop fam

 

[maxiep]

Where was it in Oregon?

hoop fam

Where Niketown is right now.