RETAIL
Nordstrom Rack to DTLA
One retailer's demise is another retailer's opportunity.
Sport Chalet filed for bankruptcy last year and closed all its stores, including the space at FIGat7th, where Target anchors that downtown Los Angeles shopping center as well as H&M, Zara and Victoria's Secret.
Now, the shopping center's operator, Brookfield Property, announced that the Nordstrom Rack would be occupying the 27,000-square-foot store once occupied by Sport Chalet. Nordstrom Rack is expected to open this fall at the retail center located at 7th and Figueroa streets.
This will be the 12th Nordstrom Rack store in the Los Angeles area. It is the off-price retail division of the pricier Nordstrom department stores, headquartered in Seattle, and has been doing well with customers looking for items that are 30 percent to 70 percent off regular prices.
Downtown Los Angeles has become a popular spot for off-price discounters, with Burlington Coast Factory, known as Burlington, recently expanding its store at the corner of Broadway and 7th Street and Ross Dress for Less occupying a former Woolworth's store at 719-725 S. Broadway.
Bert Dezzutti of Brookfield said the Nordstrom Rack is perfect for FIGat7th. "Their on-trend merchandise appeals to our entire customer base," he said, noting the new store will encourage even more cross-shopping throughout the center.
