Nordstrom is cutting 2,500 jobs in Canada and exiting the market, closing all 13 of its Canadian stories by June and shutting down e-commerce by end of day
is closing all of its Canadian stores and cutting 2,500 jobs as it winds down operations in the country, the latest blow to the traditional retail sector fighting to retain customers and survive in the digital era.
“Despite our best efforts, we do not see a realistic path to profitability for the Canadian business,” he said in a statement. “This decision will simplify our structure, intensify focus on our growth and profitability goals and position us to create greater value for our shareholders.” Lisa Hutcheson, a retail strategist with J.C. Williams group, said as a customer she’s saddened but, as an analyst, not shocked by the announcement. Her office, at One Dundas Street, sits above the Eaton Centre location, so she was a frequent visitor and often observed a lack of customers.
While foot traffic post-pandemic is slowly coming back, downtown retailers continue to be impacted, she added. Nordstrom’s announcement comes just, including 54 stores. The Canadian closures were “probably the right choice” and show the company has a lack of confidence in how it could continue to support Canadian losses, said Neil Saunders, the managing director of GlobalData, a retail research agency.
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