U.S. department store chain Nordstrom will exit the Canadian market, shutting down its 13 stores in the country amid stagnant sales, the company said. The move will cut approximately 2,500 jobs.
"We entered Canada in 2014 with a plan to build and sustain a long-term business there. Despite our best efforts, we do not see a realistic path to profitability for the Canadian business. We want to thank our team for their performance and dedication in serving customers in Canada. This decision will simplify our structure, intensify focus on our growth and profitability goals and position us to create greater value for our shareholders," said Erik Nordstrom, chief executive officer of Nordstrom, Inc.
Accordingly, Nordstrom Canada has commenced a wind-down of its six Nordstrom and seven Nordstrom Rack stores across the country, with the help of a third-party liquidator, and its Canadian e-commerce platform. The e-commerce site has ceased operations on March 2, 2023. The in-store wind-down is anticipated to be completed by late June 2023.
The Seattle-based company operates more than 300 stores across the United States. “There is no change to Nordstrom US’s operations or stores and Nordstrom US continues to operate on a business-as-usual basis,” the company said in a statement.
