Nordstrom is closing its Canadian stores and cutting jobs in the process. Here’s what we know about the retailer’s breaking news.
According to this article, Nordstrom is closing all Canadian stores and cutting 2,500 jobs as a result. There are currently six Nordstrom stores and seven Nordstrom Rack stores in Canada. This announcement came this week as the company is looking at winding down business across the country.
Nordstrom Locations Canada
As mentioned in this article, the retailer does not see a ” realistic path to profitability” in the Canadian market. As a result, Nordstrom locations across Canada will eventually be closing.
“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,” said Erik Nordstrom, chief executive officer of Nordstrom in a news release. “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.”
The news was met with disappointment online following the company’s decision to discontinue its Canadian locations and shut its Canadian doors.
Published by HOLR Magazine.