Luxury retailer Nordstrom closing stores in two states by end of August

Company Actions - Nordstrom is closing two stores in St. Louis, Missouri, and Santa Monica, California, by the end of August as part of efforts to remain viable in a challenging retail environment [1][2] - The company plans to assist affected employees in finding roles at other Nordstrom locations [2][6] Industry Context - The retail industry is experiencing significant challenges, including weak sales and declining foot traffic, leading to increased store closures [3][5] - Other retailers, such as Macy's and JCPenney, have also announced store closures, with Macy's planning to close 150 locations over three years as part of a strategy for sustainable growth [3][5] - U.S. retail closures reached the highest level since the COVID-19 pandemic, highlighting the ongoing struggles within the sector [5] Employment Impact - Job cuts in the retail sector surged by 80% in the first five months of 2025 compared to the same period in the previous year [9] - Economic pressures, including tariffs and consumer spending declines, are contributing to workforce reductions and layoffs across the industry [10]