Bye-bye bargains – Nordstrom Rack's San Francisco SoMa location is closing

General view of Nordstrom Rack Department Store in Lincoln Park on November 17, 2014 in Chicago, Illinois.
General view of Nordstrom Rack Department Store in Lincoln Park on November 17, 2014 in Chicago, Illinois. Photo credit Tasos Katopodis/Getty Images for Nordstrom Inc.

The haven for bargain shoppers, Nordstrom Rack, has announced it will close its location in San Francisco's SoMa neighborhood on Oct. 1, according to reporting by SFGATE.

Opened in 2001 in  ashopping center at 555 Ninth St. owned by Acadia Realty Trust, the whopping 42,000-square-foot store has been where shoppers can find discounts up to to 70% off of Nordstrom prices on apparel and accessories.

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Fortunately, the Nordstrom Rack on Market Street and the neighboring full-line Nordstrom at Westfield Mall aren’t going anywhere.

"Our market strategy enables us to look at how we’re best positioned to meet the needs of our customers across a market, rather than looking at individual stores," the Seattle-based retailer said in a statement.

"This approach means we can combine our digital and physical assets to offer customers an increased product selection, improved delivery speed and increased convenience. We believe we’re best able to serve customers in this market by focusing on our nearby Nordstrom and Nordstrom Rack locations, as well as online."

Last year, Nordstrom shuttered 16 of its full-line stores across the country due to the pandemic. But it’s unusual for the company to close Nordstrom Rack outlets.

"Closing Rack stores isn’t something we do all that often," a spokesperson wrote in an email. "We’ve closed just nine since 1995, and in that same time frame, we’ve opened 245."

The company will try to place employees of the SoMa location in new roles.