REAL ESTATE

Nordstrom, Express announce NYC-area stores

BY Staff Writer

New York City — Nordstrom announced Monday that its new Treasure&Bond concept will open in SoHo on Friday, according to a report by the New York Times. The boutique-style store, which represents a new market entry for Nordstrom, will be a fraction of the size of a typical Nordstrom department store and all profits will be donated to charity. Merchandise is funkier, but is not discount like its Nordstrom Rack sister.

Retail analysts applaud the move as a sensible way to test the Manhattan waters for the Seattle-based department store retailer.

According to Peter E. Nordstrom, executive VP and president of merchandising, the company remains committed to opening a 250,000+-sq.-ft. Nordstrom department store in New York City.

Express is making similar headlines with the announcement that it would open a new flagship store in Brooklyn — a 10,000-sq.-ft. space on the Fulton Street Mall that is also home to Aeropostale and Filene’s Basement.

The ground-level space is unusual, in that it resides underneath a Long Island University dorm. The new store is slated to open spring 2012.

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FINANCE

Dick’s Sporting Goods Q2 net income surges 43%

BY Staff Writer

Pittsburgh — Dick’s Sporting Goods reported Tuesday that net income for the quarter ended July 30 rose 43% to $73.8 million, compared with $51.5 million in the year-ago period.

Revenue rose 7% to $1.31 billion from $1.23 billion. Same-store sales increased 2.5%.

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OPERATIONS

Barneys and Lady Gaga collaborate on 2011 holiday campaign

BY Staff Writer

New York City — Barneys New York said Monday it is teaming up with pop singer Lady Gaga on a holiday campaign and Christmas window display to be called Gaga’s Workshop.

The luxury department store retailer said that, in addition to the Gaga-themed window display, it will devote an entire floor of its Madison Avenue flagship to Gaga’s Workshop. The campaign will also feature limited-edition gift items and specially themed holiday shopping bags and packaging.

"As a New York city landmark, we wanted to celebrate Lady Gaga as a fellow New Yorker and amazing talent," Mark Lee, Barneys CEO, said in a statement. Lady Gaga, 25, was born Stefani Germanotta and raised in New York City.

The retailer will donate 25% of all the items featured in Gaga’s Workshop to a charity of the singer’s choice.

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