Nordstrom closing stores in Toronto, winds down Canadian operations
CTV
Nordstrom has announced it is closing its Canadian stores, including its flagship Toronto location, cutting 2,500 jobs in the process.
Nordstrom has announced it is closing all of its Canadian stores, a number of which are located in Toronto, cutting 2,500 jobs in the process.
The fashion retailer made the announcement on Thursday, noting that it does not “see a realistic path to profitability for the Canadian business.”
The move will result in the eventual closure of all of the company’s Nordstrom and Nordstrom Rack locations across Canada, including a flagship store located at Toronto’s Eaton Centre.
The company also operates stores at Yorkdale Shopping Centre, Vaughan Mills Shopping Centre and CF Sherway Gardens.
"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,” Erik Nordstrom, chief executive officer of Nordstrom, said in a news release. “We want to thank our team for their performance and dedication in serving customers in Canada."
The company currently operates six Nordstrom stores and seven Nordstrom Rack stores in Canada.
It says that its e-commerce platform will cease to operate as of today with the wind-down of in-store operations expected to be completed by June with the help of a third-party liquidator.
