Nordstrom, TopShop to launch joint-venture pilot in 14 Nordstrom stores
Seattle — Nordstrom and British fashion brand TopShop said Thursday they have formed a partnership to launch TopShop and TopMan in-store departments in 14 Nordstrom stores, as well as on Nordstrom.com beginning Sept. 10.
The joint venture makes Nordstrom the only large U.S. retailer to sell a broad assortment of the British fashion brands’ merchandise in-store and online.
TopShop and TopMan have flagship stores in New York, Chicago, Las Vegas and Los Angeles (opening spring 2013).
"TopShop and TopMan are internationally renowned leaders in fashion and we are thrilled to start a relationship with them that we hope will grow and prosper over the years," said Pete Nordstrom, president of merchandising for Nordstrom.
Among the Nordstrom stores to feature the new offerings are the Ala Moana store in Honolulu, Oakbrook (Ill.) Center, Plaza at King of Prussia (Pa.), San Francisco Centre, Dadeland Mall in Miami, Irvine (Calif.) Spectrum Center, and Garden State Plaza in Paramus, N.J.
PetSmart to open new DC in Berks County
Harrisburg, Pa. — Pennsylvania governor Tom Corbett said Thursday that PetSmart will open a new distribution center in Bethel Township, Berks County, Pa.
PetSmart will construct an 870,000-sq.-ft. distribution center in Berks Park 78, a new industrial park located in Bethel Township. The company will start construction on the $50 million distribution center in the fall of 2012, with completion expected in first quarter 2014.
The project is expected to create at least 500 new jobs by 2016.
PetSmart received a $2.3 million funding offer from the Department of Community and Economic Development, including a $1 million PA First grant, $245,250 in job training assistance and $1.09 million in Job Creation Tax Credits.
Christopher & Banks announces new $50 million secured credit facility
Minneapolis — Christopher & Banks Corp. said Thursday it has entered into a new $50 million senior secured revolving credit facility with Wells Fargo Capital Finance.
The new facility provides committed revolving funding through July 2017, and replaces the company’s $50 million credit facility that was scheduled to mature on June 30, 2014.