Nordstrom is also trying a name-your-own price store

The store will be in NYC’s SoHo area.

According to The Seattle Times, the store, which will donate all of its profits to charity, will be less than a 10th the size of a typical full-line Nordstrom store, and will carry a different name.

“Our intention is not to create a mini-Nordstrom,” says corporate spokeswoman Pamela Lopez, as quoted by The Seattle Times. “There will be no Nordstrom signage and no Nordstrom shopping bags. Really, the store will have an identity all its own. It’s a chance for us to do something completely new.”

Already, Nordstrom seems to have learned something that Panera didn’t.