By and  on April 4, 2014

Nordstrom and Saks Fifth Avenue are betting big on their off-price concepts.

The Seattle-based Nordstrom Inc. plans to sharply increase the number of Rack stores in the U.S. to 230 by 2016 from 148 currently, while Saks parent Hudson’s Bay Co. plans to double the size of Saks Off 5th over the next five years, opening about 70 stores to boost the count to 140.

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