124-year-old retail chain announces rare store closure

Core Insights - The rise of online shopping is reshaping consumer behavior, leading to the decline of traditional department stores and raising concerns about the future of brick-and-mortar retail [1] - Economic uncertainty is causing consumers to be more cautious with their spending, resulting in weakened sales and reduced foot traffic for many retailers [2] - The gap between store closures and openings is widening, with iconic department stores facing challenges in maintaining their presence [3] Company-Specific Insights - Nordstrom has confirmed the closure of its Nordstrom Rack store in Portland, Oregon, effective January 31, 2026, impacting 37 employees [4] - The decision to close the store is aimed at allowing Nordstrom to better serve Portland shoppers by focusing on remaining locations and e-commerce [5] - Despite the closure, Nordstrom remains committed to expanding its Nordstrom Rack concept nationally, having opened 22 new locations in 2025 and planning to open 20 to 25 new stores annually [6] - There are concerns regarding the future of Nordstrom's flagship location in Portland, with indications of uncertainty from the CEO about the company's operations in the city [7]