Free Trial

Nordstrom closing its Canadian stores, cutting 2,500 jobs

TORONTO (AP) — Nordstrom Inc. announced Thursday it is closing all of its Canadian stores and cutting 2,500 jobs as it winds down operations in the country.The Seattle-based retailer has six Nordstrom and seven Nordstrom Rack stores in Canada, which will be shuttered by late June.Its e-commerce business will cease operations Thursday. Nordstrom chief executive Erik Nordstrom said the company is exiting Canada because it does not see a realistic path to profitability for the business in the country.The wind down is being done through an order obtained by the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act.Nordstrom first announced plans to expand to Canada in 2012 and opened its first store in Calgary at CF Chinook Centre in September 2014.

Should You Invest $1,000 in Nordstrom Right Now?

Before you consider Nordstrom, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nordstrom wasn't on the list.

While Nordstrom currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

13 Stocks Institutional Investors Won't Stop Buying Cover

Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Goldman Sachs Warns of 20% Market Drop—Are They Right?
Top 3 Insider Stock Buys in April—Are They Still Good in May?
5 Blowout Earnings Winners That Could Soar Even Higher

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines