The business is winding down its operations in Canada and instead has an eye on expanding its outlet banner.
The upscale department retailer revealed the move in its fourth-quarter earnings release. As of January, there were six full-line Nordstrom stores and seven Nordstrom Rack stores in Canada, as well as a dedicated website.
Nordstrom Canada will wind down its stores across the country with the help of a third-party liquidator and its Canadian e-commerce platform. The in-store wind-down is expected to be completed by late June 2023.
“We entered Canada in 2014 with a plan to build and sustain a long-term business there,” stated CEO Eric Nordstrom. “Despite our best efforts, we do not see a realistic path to profitability for the Canadian business. This decision will simplify our structure, intensify focus on our growth and profitability goals and position us to create greater value for our shareholders.”
