Nordstrom Racks Up Another L.A. Store
Seattle Nordstrom, Inc., announced it will open its fifth Nordstrom Rack store in the Los Angeles market. The latest store is slated to open in fall 2009 at the Beverly Connection. The 28,000-sq.-ft. Nordstrom Rack will be located on the first floor of the urban shopping center.
Beverly Connection, owned by Vornado Realty Trust, is a two-level 330,750-sq.-ft. shopping center located between Beverly Hills and West Hollywood.
Study: Decrease in back-to-school spending expected
NEW YORK Consumers plan to cut back on back-to-school spending due to higher costs of food and gas. According to a Deloitte survey, 71% of respondents said they plan to spend less on back-to-school items this year. Almost half (48%) plan to reduce their household spending by more than $100.
The survey results indicate that, this year, the vast majority of consumers (88%) will do their back-to-school shopping at discount/value department stores. Almost four in 10 (37%) will shop at dollar stores, and almost one-third (32%) will shop at office supply/computer stores.
Sam’s targets cost-conscious collegiates
BENTONVILLE, Ark. Sam’s Club is now offering students with a valid college ID and collegiate e-mail address a year-long membership for $40 and a $15 gift card to help offset the cost of their first purchase.
In addition, each collegiate membership includes a complimentary add-on card so other students can share the savings.
The new college membership cards, according to Sam’s Club, is its way of addressing concerns about rising costs of education. According to a survey commissioned by Sam’s Club, 66% of Americans felt tuition was the biggest concern as the school year begins. Furthermore, 85% felt that one-stop-shopping at places such as warehouses lead to the greatest savings when purchasing items for college.
“We’ve always had a great relationship with college administrators and many of our clubs serve college towns, this new college specific membership will help us answer the needs of both parents and students, as they return or go to campus for the first time, and to make the most of their budgets,” said Mike Turner, vp of membership at Sam’s Club.