Nordstrom to pull out of Canada

Nordstrom Inc. has announced it will terminate all operations in Canada by the end of June, axing more than 2,300 jobs in the process. The retailer currently operates six Nordstrom stores and seven discount Nordstrom Rack locations in the country. In court filings, Nordstrom said its Canadian business has lost money every year since it started in 2014.

Once Nordstrom receives court approval to wind down operations under the Companies Creditors’ Arrangement Act, it could begin liquidation sales by the end of this month. Online sales have ceased effective immediately. “It’s no secret that the department store channel has been in, let’s call it, a pretty fragile state,” retail analyst Doug Stephens told CBC News.