Remember when word came out that Nordstrom would be moving in to Union Square? Well: it's heeeere. The company made its Manhattan debut today with their discounted Rack store setting up shop in the old Virgin Megastore spot. The NY Times says to expect 25,000 pairs of discounted shoes, an automated checkout line, and other tell-tale signs that this is the company's discount arm. Their president told the paper, “Ideally we would have led with a full-line store," but allegedly finding a suitable location wasn't easy, so they're getting their foot in the door by wooing the budget fashionistas. Oh well, better than Wal-Mart (which was originally rumored to be moving in to the space). more ›

Those fearing a Wal-Mart might be moving to Union Square can breath a sigh of relief...for now. While the shuttered Times Square Virgin Megastore transitions into a Forever 21, WWD is reporting that the Nordstrom folks might be taking over the Virgin Megastore space. The real deal high price Nordstrom department store you've seen in the mall isn't looking to move in, however, it's their discount shop called The Rack that would be unpacking there. A spokeswoman for Nordstrom told WWD, “We looked at Union Square and would like to have a Rack in Manhattan. Nothing is signed yet. We are talking to them.” But word is the lease is "very, very close" to being signed. more ›