On Thursday, American luxury department store chain Nordstrom announced that it is closing all of its Canadian stores by this summer.
The news was shared in a press release that included Nordstrom’s fourth quarter earnings for 2022.
“We regularly review every aspect of our business to make sure that we are set up for success,” said Erik Nordstrom, Chief Executive Officer of Nordstrom, Inc.
“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.”
The e-commerce platform will cease Canadians operations on March 2, 2023. The in-store wind-down is anticipated to be completed by late June 2023.
Nordstrom Canada operates six Nordstrom stores, including one at Pacific Centre in downtown Vancouver, and seven Nordstrom Rack stores.