INDIANAPOLIS, May 26, 2011 /PRNewswire via COMTEX/ --
Nordstrom today announced plans to close its Circle Centre store in downtown Indianapolis, Ind. Originally opened September 8, 1995, the 216,000-square foot store will close to the public at the end of business on July 31, 2011. The company will continue to operate a nearby location at The Fashion Mall at Keystone and is opening a new Nordstrom Rack store at the Shops at Rivers Edge on September 15, 2011.
"This has been an extremely difficult decision that we've wrestled with for some time because we care a lot about our employees, our customers and this community," said Erik Nordstrom, president of stores at Nordstrom. "We've enjoyed serving our customers in downtown Indianapolis, but unfortunately our business has declined over the long term for some time and despite our efforts to turn things around we don't see the outlook significantly changing."
The closure impacts about 176 employees. Nordstrom will find opportunities for many of those employees at its nearby stores -- the two locations should offer about 97 positions. "We have a fantastic team at Circle Centre and we are fortunate that we'll be able to offer many of them jobs at our Keystone store and our new Shops at Rivers Edge Rack," said Nordstrom. For those eligible employees who aren't offered roles at the other locations but stay with Nordstrom until closing, a severance package will be available.
"The City has done an amazing job continuing to energize downtown Indianapolis - things like adding more hotels, investing in an expanded convention center, building a new football stadium, and transforming Georgia Street. But unfortunately efforts like these just haven't helped our business improve," said Nordstrom. "We're glad to have had the privilege of serving customers at Circle Centre for nearly 16 years and we look forward to serving customers at Keystone and our Rack store into the future."
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 214 stores located in 29 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 116 full-line stores, 95 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also serves customers through its online presence at Nordstrom.com and through its catalogs. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.
Brooke White, Nordstrom, Inc.
SOURCE Nordstrom, Inc.