Quote:
Originally Posted by austlar1
Nordstrom and Neiman-Marcus are both facing huge financial problems. Some form of BK is probably on the horizon for Neiman's. It will be very interesting to see whether Neiman's and Nordstrom's will be able to jump start a brand new shopping district in the Hudson Yard development. Is Manhattan really like Tokyo in that regard, able to support multiple high end shopping nodes in the era of online shopping, especially with so many savvy shoppers looking for designer bargains online. I tried to make some sense of the NYT article linked below, but I could not figure out whether Nordstrom does actually plan to go ahead with a Hudson Yard store. The Neiman's store has been delayed until a 2019 opening date.
https://www.nytimes.com/2018/04/08/b...ork-store.html |
Nordstrom's Manhattan flagship is already partially open. The men's store is operating, the women's store opens next year. But it's on 57th Street, not Hudson Yards. It's already the highest grossing Nordstrom.
NM's Manhattan flagship is part of Hudson Yards, and it will open in 2019, alongside all the other retail.
Manhattan shopping, while not immune to online retail, is heavily dependent on international visitors. There are different operating assumptions than your typical U.S. department store. Alongside Miami, Honolulu, and maybe LA/OC, a huge proportion of retail spending is by non-locals.