Nordstrom permanently closed its Santa Monica store at 220 Broadway in Santa Monica Place on August 26, ending operations at the Southern California location despite reporting strong fourth quarter earnings that exceeded expectations.
The company announced it would better serve area customers through surrounding stores and digital channels. Nordstrom committed to supporting employees through the transition, including helping those interested in finding other roles within the company.
The closure occurred as Nordstrom reported robust Q4 2024 financial results, with net earnings of $165 million and total comparable sales increasing 4.7 percent. CEO Erik Nordstrom noted that customers responded positively to their offerings across both banners.
The Santa Monica closure reflected broader retail trends accelerated by the pandemic. The struggling Santa Monica Place mall faced severe challenges with a nearly 70% vacancy rate after previous owner Macerich defaulted on a $300 million loan, leading to court-appointed receiver Trigild taking control.