To maintain its financial health amid the coronavirus crisis, Nordstrom Inc. announced last week that it was trimming 16 stores from its fleet.
The department store currently operates 378 stores across its nameplates, but the closure of 16 outposts will reduce the full-line store count down to 100. Additionally, the Seattle-based retailer announced that it is overhauling its regional structure, support roles and corporate organization in a bid to become faster and more flexible. All told, the restructuring is expected to result in expense savings of about $150 million — or 30% — of the company’s previously announced plans for cash reductions of more than $500 million in operating expenses, capital projects and working capital.
When Nordstrom initially announced the cuts last week, the company did not reveal which stores would be shuttering their doors permanently. But in an email to FN today, Nordstrom confirmed that the locations below, listed alphabetically by state, have been slated for closure:
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- Chandler Fashion Centre, 3199 W. Chandler Blvd., Chandler, Ariz.
- Westfield North County, 270 E Via Rancho Pkwy., Escondido, Calif.
- Montclair Place, 5015 N. Montclair Plaza Ln., Montclair, Calif.
- Stoneridge Shopping Centre, 1600 Stoneridge Mall Rd.,Pleasanton, Calif.
- 3601 The Galleria at Tyler, Riverside, Calif.
- Arden Fair Mall, 1651 Arden Way, Sacramento, Calif.
- Paseo Nuevo, 17 W Canon Perdido St., Santa Barbara, Calif.
- FlatIron Crossing, 21 W. Flatiron Crossing Dr, Broomfield, Colo.
- Dadeland Mall, 7239 N. Kendall Dr., Miami, Fla.
- Waterside Shops, 5489 Tamiami Trail N., Naples, Fla.
- 1800 Annapolis Mall, Annapolis, Md.
- Freehold Raceway Mall, 3710 U.S. Highway 9, Freehold, N.J.
- Clackamas Town Centre, SE 85th Ave., Happy Valley, Ore.
- North East Mall, 1101 Melbourne Rd., Hurst, Texas
- Short Pump Town Centre, 11812 W. Broad St., Richmond, Va.
- 4000 The Mall of San Juan Blvd., San Juan, Puerto Rico
Unfortunately, more retail store closures are likely to follow. According to Coresight Research, there could be more than 15,000 gross store closures in the U.S. this year — up from a record-high 9,548 closures in 2019 — because of the COVID-19 crisis.
“The coronavirus outbreak will provide a sharp shock to physical retail. As stores shutter and consumers avoid public places, we expect shopper traffic to discretionary store formats to slow to a trickle, even if there is not a total lockdown,” a March report from Coresight reads.