Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal.

Stocks closed higher on Wall Street at the start of a holiday-shortened week.

The National Retail Federation has revised a report released in April that pulls back the claim that organized retail crime accounts for nearly half of overall industry shrink, which measures overall loss in inventory, including theft.

Shares are mostly lower in Asia after a modest advance on Wall Street that kept the market on track for a fourth straight weekly gain.

Best Buy Co. posted stronger-than-expected profits, but reported a deeper-than-expected drop in revenue for the fiscal third quarter as shoppers continue to pull back on buying gadgets in an uncertain economy.

Nordstrom says its sales and profits fell in its fiscal second quarter, joining its department store peers coping with shoppers' cautious spending.

Kohl’s reported on Wednesday that profits dropped nearly 60% on weak sales in the second quarter, joining a slew of retailers that are wrestling with shoppers’ cautious spending in a challenging economy.

Macy’s slashed its outlook for the entire year with sales weakening sales in the first quarter during an increasingly challenging economic environment, including stubbornly high inflation.

Nordstrom at Twelve Oaks Mall in Novi was evacuated and closed on Saturday after the store received a bomb threat, according to Novi Police Chief Erick Zinser.

A suspect wanted in connection with a fatal shooting at the Mall of America in December was arrested in Georgia on Tuesday.

Police have arrested six men following a funeral for a 19-year-old man who was shot at the Mall of America last month.

Police say a 19-year-old man was killed during a shooting at the Mall of America that sent frightened customers at the nation’s largest shopping center racing into a lockdown just before the holiday weekend.

A 54-year-old man has been charged after a mother allegedly caught him peeping into her child’s bedroom window at her Wixom apartment.

Stocks ticked higher as traders avoided big moves ahead of a highly anticipated speech about interest rates later this week.

Partridge Creek Mall was originally developed by Taubman and opened to a lot of fanfare in 2007. Designed to be an upscale outdoor shopping experience that was dog-friendly, a Nordstrom and a Parisian anchored it. Fast forward to 2014, the mall was sold at the height of the market.

Los Angeles police say a group of thieves smashed windows at a department store at a luxury mall.

The number of Americans applying for unemployment benefits fell for the sixth straight week as the U.S. economy reopens rapidly after being held back for months by the coronavirus pandemic.

Americans increased their spending by 0.5% in April, a slowdown after a massive gain in March which had been powered by distribution of billions of dollars in individual stimulus checks.

TROY, Mich. – A Taylor man was arrested and charged after a report of a possible assault involving a gun at the Somerset Collection in Troy. Michael Deonte James, 21, of Taylor, has been charged with carrying a concealed weapon, felony firearm and possession of a firearm. Troy police responded at about 4:15 p.m. on Oct. 2 to a possible assault in the Nordstrom store. James was arraigned on Oct. 3 and was issued a $50,000 cash/surety bond. Police are still investigating the incident at Somerset Collection.

So Walmart and Nordstrom are building physical stores that don't actually sell anything. Earlier this month, Walmart opened Walmart Pickup Point, a 40,000 square-foot prototype store outside of Chicago in Lincolnwood, Illinois, to cater to customers' online pickups and deliveries. The new Walmart locations share similarities with Nordstrom Local, a concept Nordstrom first introduced in Los Angeles in 2017. Buy online, pickup in store growsRetailers have been successfully expanding online pickup options in their stores in recent years. For Nordstrom, customers who visit Local stores spend two and a half times more on average than regular customers, according to the company.

Spencer Platt/Getty Images(CNN) - Looking for more proof of just how hard it is for traditional retailers to compete in a world that's increasingly dominated by Amazon? Nordstrom and Gap are the worst-performing stocks in the S&P 500 so far this year. Several other big brick-and-mortar retailers are among the market's biggest losers of the first half of 2019. All of those companies have recorded sluggish sales and profits as consumers increasingly shop online. And Home Depot, which faces less competition from Amazon and online shopping in general, is up more than 20%.

CLINTON TOWNSHIP, Mich. - Upscale retailer Nordstrom confirms it's closing its Partridge Creek location, and some shoppers aren't happy about the decision. Nordstrom is the second anchor tenant leaving the mall in Clinton Township. Real estate developers have been expecting a closure for more than a year. Nordstrom has been slowly closing underperforming stores. The store at the Partridge Creek location is expected to close Sept. 13.

DETROIT - Here's what is coming up on Local 4 News at 11:Face recognitionA controversial new technology couldh elp police on the streets. Democratic debatesMiami hosted the first Democratic presidential debate Wednesday night. Baseball gameThe Wolverine's came up one win short at the College World Series. Nordstrom closingUpscale retailer Nordstrom confirms it's closing it's partridge creek location. Copyright 2019 by WDIV ClickOnDetroit - All rights reserved.