Nordstrom closing stores in two states by end of – Business News
Nordstrom is shutting down two of its stores by the end of August because the company tries to keep afloat.
The retail industry faces a number of headwinds, from a difficult financial climate to shifting client habits.
Saint Louis Galleria Nordstrom store in St. Louis, Missouri, in addition to the Nordstrom store in Santa Monica, California, will close on Aug. 24 and Aug. 26, respectively, the company confirmed to FOX Business.
“We believe we’ll be best able to serve customers in each region by leveraging our surrounding stores and through our digital channels,” a Nordstrom spokesperson mentioned in a assertion.
“Decisions like this are never easy, and we understand the impact they have on our team members.”
The company mentioned it might help impacted staff discover roles at different Nordstrom places.
The Nordstrom store is pictured in Broomfield, Colorado, February 23, 2017. REUTERS
The luxurious retailer isn’t the one one which has introduced closures in latest years because the industry faces a tough patch, together with lackluster gross sales and declining site visitors.
In January, Macy’s recognized 66 stores that it deliberate to close this 12 months.
The company is on observe with its plans to close 150 places over three years as half of its strategy, dubbed a “Bold New Chapter,” aimed toward serving to the company obtain sustainable, profitable growth.
The company mentioned it might help impacted staff discover roles at different Nordstrom places. Christopher Sadowski
A month later, JCPenney introduced plans to close a “handful” of stores over the approaching months because it struggled to keep tempo with quickly altering market circumstances.
Eight places throughout eight states are closing, with the company citing causes resembling “expiring lease agreements” and “market changes.”
To additional spotlight the industry’s woes, final fall, U.S. retail closures reached the best degree for the reason that COVID-19 pandemic, in line with Coresight Research.
Shoppers stroll by a Nordstrom signal at Westfield San Francisco Centre on May 11, 2023 in San Francisco, California. Getty Images
Job cuts in the sector additionally surged 80% in the primary 5 months of 2025 in comparison with the identical period final 12 months, in line with a new report from Challenger, Gray & Christmas.
“Tariffs, funding cuts, consumer spending, and overall economic pessimism are putting intense pressure on companies’ workforce,” mentioned Andrew Challenger, senior vice president of Challenger, Gray & Christmas, in the report.
“Companies are spending less, slowing hiring, and sending layoff notices.”
Store closures additionally contributed to these cuts.
