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Nordstrom’s May Expand Bargain Based Stores: Nordstrom Inc., known for catering to the well-heeled shopper, said it may expand its presence in the lower end of the retail market. The recession has left the Seattle-based firm grappling with a 16% profit drop in the first quarter. James F. Nordstrom, co-chairman, told about 225 shareholders at the company’s annual meeting that the retailer would consider opening one or two outlet stores in addition to its lucrative Nordstrom Racks, bargain basement-type shops that market overstocked merchandise from its department stores. The new stores will not bear the Nordstrom name and will carry different merchandise lines, he said.