REAL ESTATE

Nordstrom Rack plans 2015 store opening in Albuquerque

BY Dan Berthiaume

Seattle – Nordstrom Inc. plans to open a Nordstrom Rack at Winrock Town Center in Albuquerque, New Mexico. The approximately 33,500-sq.-ft. store is scheduled to open in fall 2015.

The new Nordstrom Rack will be the company’s first retail location in New Mexico.

"We’ve long heard from customers in New Mexico that they’d love to have a Nordstrom offering and we’re thrilled to bring a Nordstrom Rack to Albuquerque," said Geevy Thomas, president of Nordstrom Rack. "We believe Winrock Town Center represents a great mix of shopping and entertainment in the area and we look forward to opening our doors next fall."

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Empowering women with expanded assortments

BY CSA STAFF

A Walmart initiative begun a year ago to offer an online assortment of products from small women-owned businesses has expanded to the retailer’s stores.

The initiative is part of Walmart’s “Empowering Women Together,” platform and is timed to coordinate with Mother’s Day. Walmart, in collaboration with Full Circle Exchange, an innovative social enterprise brand, identified five suppliers to bring new products into Walmart stores this spring including, Caribbean Craft, Fidenzo Designs, Nirmal, Soreh Designs and women refugees employed at Full Circle’s facility in Boise, Idaho. For the first time, as a part of Walmart’s Empowering Women Together initiative, the small women-owned businesses from the U.S., Peru, Haiti and India are being introduced to a nationwide audience of shoppers. Among the nearly 50 products available now available at 2,600 Walmart stores are scarves, aprons, mugs, chocolate gift sets and greeting cards.

“Empowering Women Together began as an online platform one year ago, and this spring we are bringing select products in-store. By offering these products in-store, several small women-owned businesses will now have access to more than an estimated 100 million shoppers,” said MiKaela Wardlaw Lemmon, senior director of Women’s Economic Empowerment at Walmart. “We are excited to offer this opportunity to both our customers and suppliers. Mother’s Day is a time to celebrate the special women in our lives. This Mother’s Day assortment allows our customers to give gifts that will not only wow mom, but uplift women around the world.”

Empowering Women Together launched in March 2013 as an online platform with 19 suppliers representing nine countries and more than 200 items. Since launch, Empowering Women Together has grown to more than 30 suppliers in 11 different countries with more than 350 products

The Empowering Women Together program is part of Walmart’s larger commitment to increase sourcing from women-owned businesses. Other goals include sourcing $20 billion from women-owned businesses for its U.S. business and double sourcing from women suppliers for the international markets where it does business.

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Additions to Supervalu board

BY CSA STAFF

Supervalu has elected Frank (Terry) Savage and Mathew Pendo to its board of directors.

Savage and Pendo were both appointed to the board as designees of Symphony Investors, a Cerberus Capital Management-led investor consortium, under the terms of the tender offer agreement entered into with Symphony Investors and Cerberus in connection with Supervalu’s sale of five banners to an affiliate of Symphony Investors. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock.

Savage is currently a senior advisor to Lazard and the former vice chairman of U.S. Investment Banking at Lazard.

Pendo is currently a managing director at Sandler O’Neill Partners, a boutique investment banking firm focused on the financial services industry.

The board now has 11 members, nine of whom are independent directors under the New York Stock Exchange listing standards.

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