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Nordstrom is shutting down two of its shops by the tip of August as the corporate tries to maintain afloat. The retail trade faces a number of headwinds, from a difficult financial local weather to shifting client conduct.
Saint Louis Galleria Nordstrom retailer in St. Louis, Missouri, in addition to the Nordstrom retailer in Santa Monica, California, will shut on Aug. 24 and Aug. 26, respectively, the corporate confirmed to FOX Enterprise.
“We consider we’ll be greatest capable of serve prospects in every area by leveraging our surrounding shops and thru our digital channels,” a Nordstrom spokesperson stated in an announcement. “Choices like this are by no means straightforward, and we perceive the influence they’ve on our group members.”
US RETAIL CLOSURES HIT HIGHEST LEVEL SINCE PANDEMIC
The corporate stated it could assist impacted workers discover roles at different Nordstrom areas.
The posh retailer is not the one one which has introduced closures lately because the trade faces a tough patch, together with lackluster gross sales and declining site visitors.
Nordstrom is shutting down two of its shops by the tip of August as the corporate tries to maintain afloat. (Kevin Carter/Getty Photographs / Getty Photographs)
In January, Macy’s recognized 66 shops that it deliberate to shut this yr. The corporate is on monitor with its plans to shut 150 areas over three years as a part of its technique, dubbed a “Daring New Chapter,” geared toward serving to the corporate obtain sustainable, worthwhile progress.
A month later, JCPenney introduced plans to shut a “handful” of shops over the approaching months because it struggled to maintain tempo with quickly altering market situations.
Eight areas throughout eight states are closing, with the corporate citing causes resembling “expiring lease agreements” and “market adjustments.”
Saint Louis Galleria Nordstrom retailer in St. Louis, Missouri, in addition to the Nordstrom retailer in Santa Monica, California, will shut on Aug. 24 and Aug. 26, respectively. (David Paul Morris/Bloomberg by way of Getty Photographs / Getty Photographs)
WHY NEIGHBORHOOD PHARMACIES ARE CLOSING
To additional spotlight the trade’s woes, final fall, U.S. retail closures reached the best stage for the reason that COVID-19 pandemic, in accordance with Coresight Analysis.
Job cuts within the sector additionally surged 80% within the first 5 months of 2025 in comparison with the identical interval final yr, in accordance with a brand new report from Challenger, Grey & Christmas.
The corporate stated it could assist impacted workers discover roles at different Nordstrom areas. (Kevin Carter/Getty Photographs / Getty Photographs)
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“Tariffs, funding cuts, client spending, and general financial pessimism are placing intense stress on corporations’ workforce,” stated Andrew Challenger, senior vp of Challenger, Grey & Christmas, within the report. “Corporations are spending much less, slowing hiring, and sending layoff notices.”
Retailer closures additionally contributed to these cuts.