Nordstrom has announced it will be shutting down all Canadian Nordstrom’s and laying off 2,330 employees. Nordstrom Inc. says it is winding down its Canadian operations and closing all 13 of its stores in the country. Nordstrom, Inc.
had reported second-quarter net earnings of $126 million and earnings per diluted share of $0.77 for the quarter ended July 30, 2022. Excluding costs associated with the wind-down of Trunk Club, the company reported adjusted earnings per share of $0.81. Nordstrom's customer strategy
is centered on three strategic pillars: providing a compelling product offering, delivering outstanding services and experiences, and leveraging the strength of the Nordstrom brand. The company, which launched in Canada in 2014, has six Nordstrom stores and seven Nordstrom Rack locations.
All stores will close and all the company’s staff in Canada will be let go. In court filings, the company says Nordstrom’s Canadian business has continued to lose money every year since opening its operations. “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,” the company said in a statement. Gift cards will only be accepted until the end of in-store liquidations that will be taking place — plans to start happening around mid-March.
Nordstrom in Canada will no longer be issuing new gift cards as of today (Thursday). "We took decisive actions to right-size our inventory as we entered the new year, positioning us for greater agility amidst continuing macroeconomic uncertainty…
