{
  "id": 3197821,
  "title": "125-year-old mall retail anchor closes discount outlet, cuts 101 jobs",
  "url": "https://urgent.news/2026/08/23/125-year-old-mall-retail-anchor-closes-discount-outlet-cuts-101-jobs",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-23T18:17:00.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/small-business/articles/125-old-mall-retail-anchor-181700285.html"
  },
  "original_language": "en",
  "account": "In September 2026, the 125-year-old Nordstrom department store chain will shutter its discount outlet store, Nordstrom Last Chance, located at Yorktown Center in Lombard, Illinois, leading to the loss of 101 jobs. This decision comes after successful efforts to adjust inventory management, diminishing the need for the Yorktown Center store. The closure of Nordstrom Last Chance is part of Nordstrom's strategic footprint adjustments in response to the shrinking mall landscape, digital competition from e-commerce, and cautious consumer spending habits. The retailer has previously closed full-line Nordstrom stores in Christiana Mall, Delaware, Galleria Dallas Mall in Texas, and a Nordstrom Rack store in Portland, Oregon, among others. Nordstrom's off-price division, Nordstrom Rack, continues to be a growth engine, accounting for over 40% of new customer acquisitions and serving as a powerful attraction for new customers. However, analysts caution that relying too heavily on off-price growth while closing full-line flagships risks undermining the parent brand's luxury identity and alienating key high-spending clientele.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}