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Nordstrom to close 122,000-sq.-ft. store in Utah
Seattle -- Nordstrom said Friday it will shutter its underperforming University Mall store in Orem, Utah. The 122,000-sq.-ft. store is slated to close on Feb. 24.
The store, which opened March 29, 2002, didn’t perform to company standards, according to Nordstrom.
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Report: New York City world’s most expensive retail destination
Los Angeles -- A report released Tuesday by CBRE Group said that New York City remains the world’s most expensive shopping destination as retailers focus on the major fashion capitals.
“Retailers continued to expand their store networks to gain market share during the third quarter despite concerns regarding consumer confidence,” said Anthony Buono, CBRE executive managing director of retail services.