U.S. retailers adapting to Canada

NEW YORK — American retailers are learning to “speak Canadian,” and looking to familiarize themselves with the market to their north as more and more firms expand here, according to the Wall Street Journal. Retailers like Harry Rosen are doubling down efforts to compete with the influx of American competitors like Nordstrom and Saks Fifth Avenue, hoping that their home turf savvy will give them an edge. Interest in Canadian expansion is increasing among U.S. retailers even as Canadian shoppers are showing signs of slowing down. Upscale retailers like Holt Renfrew have announced store closures, and Bank of Montreal chief economist Douglas Porter calls it “ironic that many U.S. retailers have been looking at the so-called greener pastures in Canada at a time when it looks as if the growth will actually be stronger in the U.S. market.”