Nordstrom's Closing Shop

The Nordstrom in Vancouver is shuttering in a few months

The Canadian retail scene is getting emptier with the news that Nordstrom is pulling out of the market completely.

After eight years of losing money annually, the American chain retailer is closing all its 13 stores across the country including Nordstrom Rack.

Even the discount stores are closing for good

Nordstrom is seeking bankruptcy protection. In its court filings, in 2022, Nordstrom's Canadian division sold about CAD$515 million worth of goods, but lost $72 million while doing so.

One retail consultant says Nordstrom scaled up too quickly without understanding the differences between customers in Vancouver, Calgary and Toronto, while another says the retailer misjudged customers here.

"They probably just overestimated how rich we are and how much we spend on luxury goods," said retail consultant Bruce Winder. "We just don't have as many people who would desire that kind of merchandise they needed to break even."

YUP. They had no idea how cheap Canadians are!

In addition Winder says, the age of the department store is over... so who is going to take over these massive multi-floor spaces that were meant to be anchor stores in shopping malls across the country?

One wonders how good the sales will be...

In the meantime people are looking forward to the sales that will be happening later this month. Many will be checking them out for any deals like hawks circling their prey...