News Summary: Nordstrom to open its 1st NYC store

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NEW YORK (AP) — NEW YORK DIGS: Nordstrom Inc. said it will open its first full-scale department store in Manhattan in 2017 or 2018. It will be located at 225 West 57th St., between Broadway and Seventh Avenue.

BEHIND THE DEAL: Nordstrom has been scouring the Manhattan market for two decades.

WHAT IT MEANS: With Nordstrom's entry, experts say the already competitive market in Manhattan will get fiercer.