Nordstrom Opens N.Y. Store to Benefit Children's Charities

Nordstrom is opening a full-priced store in Manhattan called Treasure&Bond, with all profits of the store committed to charity.

Nordstrom says its charity efforts will go further than competitors who team up with nonprofit groups for campaigns. And all proceeds from the rather expensive merchandise go to children’s charities, Nordstrom says.

In addition, there are no plans to make it a for-profit store, said Peter E. Nordstrom, executive vice president and president of merchandising at Nordstrom. But he added that the company remained committed to opening a department store in New York City.