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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
RetailNordstrom

Nordstrom’s 2 New Los Angeles Shops Have Everything Shoppers Want, Except Products

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Sarah Gray
Sarah Gray
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Sarah Gray
Sarah Gray
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July 9, 2018, 7:25 PM ET
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Two new Nordstrom Local locations are set to open this fall, the Seattle-based retailer announced on Monday. Both will be in Los Angeles: one based in Downtown L.A., and the other in Brentwood.

Like the company’s first Nordstrom Local, which opened in West Hollywood, Los Angeles in October 2017, these smaller neighborhood hubs will not be retail shops as much as experiential locations that offer services like tailoring, manicures, returns, same-day online purchase pick-up, and personal stylists.

Unlike a 140,000 square foot department store, the Brentwood location will be 1,200 square feet, and the downtown stop will be 2,200 square feet.

“We’re learning a lot from customers through our first Nordstrom Local store on Melrose and we’re looking forward to learning even more from the addition of the Brentwood and downtown L.A. locations,” Shea Jensen, Nordstrom’s senior vice president of customer experiences, said in a statement. “We think there are more ways to serve customers on their terms and we are looking forward to introducing Nordstrom Local to customers who live in these neighborhoods.”

Los Angeles is Nordstrom’s largest market, with 4 million customers and 16 stores, but according to Fast Company, which first reported the news, the retailer is also eyeing the New York City market, though there’s no set address. Fortune reached out to Nordstrom for more information.

Nordstrom, along with other department stores, must adapt to compete with online shopping. With Nordstrom Local the company’s strategy seems to be centered on convenience and services.

“Through our local market strategy, we’re combining the scale of our national infrastructure with our local assets of people, product, and place to help reimagine the shopping experience for our customers,” Ken Worzel, president of Nordstrom.com and chief digital officer, said in a release.

Nordstrom’s call with investors is scheduled for Tuesday, July 10, and according to CNBC they will get a tour of the Melrose location.

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