Nordstrom to close all Canadian stores, cutting 2,500 jobs
Nordstrom Inc. is closing all of its Canadian stores and cutting 2,500 jobs as it winds down operations in the country. The Seattle-based retailer has six Nordstrom and seven Nordstrom Rack stores in Canada, which it announced Thursday will be shuttered by late June.
Its e-commerce business, nordstrom.ca, was due to cease operations by the end of the day. Chief executive Erik Nordstrom said the closures were the result of regular reviews the company conducts that challenged its longtime plans “to build and sustain a long-term business” in Canada. “Despite our best efforts, we do not see a realistic path to profitability for the Canadian business,” he said in a statement. “This decision will simplify our structure, intensify focus on our growth and profitability goals and position us to create greater value for our shareholders.” Read more: Canada’s economy ended 2022 with a ‘thud.’ What does that mean for a recession?
Nordstrom, an upscale department store chain that sold a mix of designer goods, first announced plans to expand to Canada in 2012 and opened its first store in Calgary at CF Chinook Centre in September 2014.
It quickly expanded its presence with stores at CF Rideau Centre in Ottawa, CF Pacific Centre in Vancouver and CF Eaton Centre, Yorkdale Shopping Centre and CF Sherway Gardens in Toronto.
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