Calgary 
Nordstrom announced on Thursday that it will be closing all of its stores in Canada. This move comes as the company struggles to reach profitability in the Canadian market.
Nordstrom Toronto Eaton Centre Opening in 2016/CF Toronto Eaton Centre
The announcement was made alongside the release of Nordstrom’s fourth quarter results, and Nordstrom Canada has already commenced a wind-down of its operations. To facilitate this process, the company has obtained an Initial Order from the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act (“CCAA”).
“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,” said Erik Nordstrom, chief executive officer of Nordstrom, Inc in a statement announcing fourth quarter financial results.
Nordstrom Canada intends to wind down its Nordstrom and Nordstrom Rack stores across the country with the assistance of a third-party liquidator. The Canadian e-commerce platform will also cease operations today. The in-store wind-down is expected to be completed by late June 2023.
The company expects that Nordstrom Canada will be deconsolidated from its financial statements as of the date of the CCAA filing. Additionally, the company anticipates reporting pre-tax charges of approximately $300 million to $350 million related to the wind-down in the first quarter of fiscal 2023, primarily due to the write-down of its investment in Nordstrom Canada. The wind-down is expected to result in an approximately $400 million decline in total company net sales and a $35 million improvement in total company EBIT in fiscal 2023, excluding the aforementioned charges associated with the wind-down.
Nordstrom Canada currently employs approximately 2,500 people and operates six Nordstrom stores and seven Nordstrom Rack stores, as well as the Nordstrom.ca website.
Nordstrom Canada Stores
ALBERTA
- Calgary
Nordstrom Chinook Centre
Nordstrom Rack Deerfoot Meadows - Edmonton
Nordstrom Rack South Edmonton Common
BRITISH COLUMBIA
- Langley
Nordstrom Rack Willowbrook Shopping Centre - Vancouver
Nordstrom Pacific Centre
ONTARIO
- Mississauga
Nordstrom Rack Heartland Town Centre - Ottawa
Nordstrom Rideau Centre
Nordstrom Rack Ottawa Train Yards - Toronto
Nordstrom Sherway Gardens
Nordstrom Toronto Eaton Centre
Nordstrom Yorkdale Shopping Centre
Nordstrom Rack One Bloor
Nordstrom Rack Vaughan Mills
