nordstrom go private buyout

In a rare closing of one of its department stores, Nordstrom will shutter its Salem Center store in Salem, Ore., on April 6, affecting 130 workers.

“We’ve been fortunate to have the chance to serve so many customers at Salem Center over the past 37 years,” said Jamie Nordstrom, president of Nordstrom stores. “The decision to close a store is never one we take lightly. As we look for opportunities to grow our business and ensure we’re meeting the needs of our customers, we have to make decisions about where to invest our resources. Unfortunately, we don’t think investing in Salem Center is the best approach for us moving forward.”

The closing comes amid speculation that the company still wants to drum up financing to go private, though last year the retailer said it was temporarily halting efforts to explore the possibility.

Nordstrom, with 122 full-line units, doesn’t operate as many department stores as some other big-box retailers, such as Macy’s and J.C. Penney, and hasn’t found the need for any massive rounds of closures. Still, last year in September, Nordstrom shuttered a full-line store in Dulles Town Center in Dulles, Va., outside Washington, D.C., and in March, Nordstrom closed a full-line store in Santa Ana, Calif.

On the other hand, last year the company also opened two full-line stores, both replacing existing units, in La Jolla at UTC and Westfield Century City, both in California. In addition, last year Nordstrom opened a full-line store in CF Sherway Gardens in Toronto.

“Our stores have always been and will continue to be an essential part of our ability to serve customers,” Nordstrom said. “Our strategy is rooted in our customers and leveraging our unique capabilities of people, product and physical locations, along with our digital assets. We’re focusing on how to bring those together in individual markets to give our customers a more convenient and seamless shopping experience.”

The company said it will continue to serve Oregon customers online and at three other Nordstrom stores: downtown Portland, Clackamas Town Center in Happy Valley, and Washington Square in Tigard. The company also operates six Nordstrom Rack stores in Oregon.

In addition to the 122 full-line department stores, Nordstrom operates 232 Nordstrom Racks, two Jeffrey boutiques, two clearance stores, seven Trunk Club clubhouses, a Nordstrom Local service store, nordstrom.com, nordstromrack.com, HauteLook and trunkclub.com.

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