As anticipated, Anglo took another impairment charge on the diamond miner and marketer, which saw revenue sink 23 percent in 2024.
Nordstrom Expands ‘Local’ Concept to New York
Nordstrom Local stores don’t sell anything but, instead, offer services like online order pick-up and alterations.
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Seattle—Nordstrom announced last week that it is expanding its Nordstrom Local concept to New York, with two locations set to open in Manhattan in the fall.
Unlike traditional stores, the locations don’t sell anything, instead operating as service hubs, offering online order pick-up, tailoring, alterations and styling.
In addition, they have flexible floor plans that allow them to transform to make room for events. The retailer said it plans to hold events there for Nordy Club loyalty members as well as the public, in a push to grow the company’s relationship with the surrounding neighborhoods.
The New York Nordstrom Local stores are set to open in September.
Nordstrom launched its Local concept in Los Angeles last year, which is its largest market.
“We know our local market strategy is driving outsized market share gains in L.A. and increased product selection, delivery speed and convenience for those customers,” Shea Jensen, senior vice president of customer experience, said in the company statement announcing the expansion to New York.
Customers who visit Nordstrom Local spend two-and-a-half times more on average, the retailer said.
Next day pick-up services have been a customer favorite on the West Coast, with 30 percent of the retailer’s next day pick-ups being done in at Nordstrom Local locations.
The new Nordstrom Local stores in New York will be located on 7th Avenue in the West Village and on 3rd Avenue on the Upper East Side.
“NYC represents our largest online market and we know when we open physical stores, it complements our online presence and increases sales,” Jamie Nordstrom, president of stores, said in the company statement.
Seattle-based Nordstrom was founded in 1901, but didn’t make its way to New York until last April when it opened a men’s store on West 57th Street.
A seven-story flagship store, which will include women’s merchandise, is set to open in October just across the street.
Though there were discount Nordstrom Rack stores in New York prior to last year, the upcoming 32,000- square-foot flagship will be the first full-service Nordstrom.
Dallas-based retailer Neiman Marcus also recently moved into the New York market, opening a 188,000-square-foot location at Hudson Yards.
That store also focuses heavily on service offerings, including a custom hat shop, an in-store shoe shiner, a pop-up florist, restaurants and a stage for live performances.
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Ronald Winston is giving the 2.33-carat “Winston Red” to the Smithsonian, 67 years after his father donated the Hope Diamond.
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
Petra Diamonds Ltd. CEO Richard Duffy resigned as the diamond miner reported a 30 percent drop in sales to start its fiscal year.
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
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Show some love on Valentine’s Day with this 14-karat yellow gold ring that features pavé diamonds.
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The employee confronted the thief, causing the suspect to flee and leave behind the suitcases full of jewelry.
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