A BELOVED retail giant has confirmed it will shut a location after 15 years, amid a wave of closures affecting the brand.
The chain hasn’t given shoppers long to make the most of the spot, as chiefs have mourned the difficult decision to close.
A beloved retail giant has confirmed it will shut a location after 15 years, amid a wave of closures affecting the brand.[/caption]
Nordstrom is closing down yet another location, this time in Santa Monica, Los Angeles, California.
Nordstrom has been there for 15 years, but after August 26, it will be gone for good.
It comes just a week after a police officer was shot at Santa Monica Place, where the Nordstrom is located.
The officer was hit while attempting to arrest a man suspected of shooting two teenagers in an autonomous Waymo taxi.
It is important to stress that there has been no confirmed link between this incident and the Nordstrom closure announcement.
The company has promised to support its employees during this process.
A spokesperson for Nordstrom said: “Decisions like this are never easy, and we understand the impact they have on our team members.
“We’re committed to taking care of our employees through this transition, including supporting those who are interested in finding another role within Nordstrom.”
The 50,000 square-foot Nordstrom can currently still be found at the southern end of Santa Monica’s struggling Third Street Promenade.
The area has seen an increase in vacancies after the pandemic.
SUMMER SLAUGHTER
Nordstrom is currently being hit by store closures and financial struggles.
Recently, the company announced it would be closing down a popular mall spot inside the Saint Louis Galleria this summer.
This comes after 14 years inside the shopping center, found at 1453 Saint Louis Galleria Street in Richmond Heights.
The store is set to close two days before the Santa Monica one, on August 24.
US braces for ‘45,000 store closures’
Some 45,000 bricks-and-mortar stores could close in the next five years, experts have warned.
Several major retailers have announced store closures or gone out of business altogether in recent years.
In 2023, chains such as Foot Locker announced plans to close up to 400 outlets by 2026.
While, other well-known retailers like Tuesday Morning and Mitchell Gold + Bob Williams filed for bankruptcy in 2023.
Bed Bath & Beyond has closed all of its brick-and-mortar stores and is now an online-only retailer.
The most affected retailers have been clothing, consumer electronics, sporting goods, hobby, book, music, and home furnishing stores since the start of 2019.
UBS has predicted the total number of retail stores will drop by 45k from 958k to 913k.
Despite that, the report says that certain stores should thrive while others decline.
It said retailers such as Walmart, Costco, Home Depot, and Target, could be among the winners.
A spokesperson told local NBC affiliate KSDK: “We believe we’ll be best able to serve customers in the area by leveraging our surrounding stores and through our digital channels.”
The spokesperson confirmed that Nordstrom will not be renewing its lease, as it would no longer be profitable.
Just in the past few months, Nordstrom has closed down multiple locations, too.
On January 31, the retail giant axed its spot at the Northshore Mall in Peabody, Massachusetts.
March 8 then brought the closure of a Nordstrom at the South Shore Plaza in Braintree, Massachusetts.
These two locations were later replaced by Dick’s Sporting Goods.
Nordstrom is closing down yet another location, this time in Santa Monica, Los Angeles, California[/caption]
