Nordstrom Inc. (JWN), a leading fashion specialty retailer, recently announced plans to open a new 36,000 square feet Nordstrom Rack on East Chicago Avenue between North Michigan Avenue and North Rush Street.
 
The new store would be the seventh of its kind in greater Chicago and the second such store downtown. The new Nordstrom Rack is expected to open in the fall of 2010 and would offer merchandise at fire-sale prices with discounts of 50%−60%. Nordstrom has continually opened new stores to attract more customers and expects to bolster its sales through increased footfall.
 
Nordstrom Rack is the off-price division of Nordstrom Inc. The first Nordstrom Rack was opened in the basement of the downtown Seattle store in 1975 as a clearance department. Since the huge initial response, it has grown into a separate division of the company. Currently, there are 69 Nordstrom Rack stores across 21 states in the U.S.
 
Nordstrom has about 184 stores spread across 28 states in the US, offering a selection of brand names and private label merchandise. The company sells its products through various channels, including Nordstrom full-line stores, Nordstrom Rack off-price stores, Last Chance clearance stores, and Jeffrey boutiques; besides the catalog and the Internet.
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