Nordstrom closing its Canadian stores, cutting 2,500 jobs

AP/ABC news ^ | 3/2/23 | AP wire

[CFW]

TORONTO -- 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.

[CFW]

The economy is doing great everyone! The media is constantly reminding us of that fact. Everyone knows that businesses closing and lay-offs being announced shows that the job market is strong. Besides, people are still both saving, and spending, all that stimulus money they received two years ago. Maybe consumers just purchased all the product that Nordstrom had to offer and the supply chain is so bogged down they can't restock with sufficient items to remain open.

[1Old Pro]

Yep, the economy is great, so great Biden is going to run on it. Layoffs are a sign that the economy is great, just like high inflation and high unemployment and high crime, it’s just great.

[mylife]

well, they still have Eaton’s

[llevrok]

Nordstrom is Seattle based. Their head quarters and flag ship store are in the what used to be the center of the Seattle retail and offices.

Note- “used” to be. Foot traffic in the area is 25% of what it was pre-pandemic (per local TV station report). Crime is open on every street corner and shop lifting rampant.

How long will they be able to keep that store open and their HQ there?

[dangus]

2500 jobs at 13 stores? That’s an average of 192 jobs per store.

[CFW]

“2500 jobs at 13 stores? That’s an average of 192 jobs per store.”

I am assuming included in the job loss numbers is the number of lay-offs at corporate headquarters as well.

[volunbeer]

There are large parts of downtown Seattle that are simply gross public health hazards not to mention that mentally ill people are either drugged out on the sidewalks or they follow you demanding money.

It is a shame. The downtown there used to be a pretty nice place. I feel really bad for the small business owners trying to make a living there.

I know “elections have consequences” and that is always a standard reply to threads like this, but not everyone voted for this crap and many of the business owners there are pretty upset with the city council but too many voters have no skin in the game.

[Grampa Dave]

This is happening in Canada to Castro Trudeau’s voters.

[Grampa Dave]

“Nordstrom closing its Canadian stores, cutting 2,500 jobs.”

This is about Canadian stores,

[kiryandil]

Canada blows up the Nordstrom pipeline again!

[ProtectOurFreedom]

“…no realistic path to profitability for the business in the country”

Now why would that be? They couldn’t see that ten years ago when they entered Canada?

[llevrok]

I know “elections have consequences” and that is always a standard reply to threads like this, but not everyone voted for this crap and many of the business owners there are pretty upset with the city council but too many voters have no skin in the game.

Yes. Whether Seattle or almost any where - only 40% of registered voters vote in general elections. Even less in primaries.

What does that mean? Some one can get elected or an awful initiative passed by a "majority" - 21% (or less) of the registered voters.

Elections have consequences indeed. So do lack of votes.

[entropy12]

Because of the bad economy, stocks are up big today LOL.

[Rinnwald]

Some parts of Seattle vote Dem party line at Politburo levels. I assume they’re getting what they want.

[jmacusa]

But they got free health care, eh?

[jmacusa]

“The price good men pay for the indifference to public affairs is to be ruled by weak men.''- Plato.

[cgbg]

Companies don’t start closing lots of stores unless they are having major financial problems—it is almost a certainty that US stores will not be far behind.

[cgbg]

Seattle voting fraud is a high art form.

Thousands of homeless people are “registered” with their “address” the King County Courthouse.

Amazingly they all sober up and get drug free so they can vote in every election.....even when they have moved out of state!

[angry elephant]

During the BLM and Antifa riots the crooked rioters stole every single thing from the Nordstrom flagship store in the heart of Seattle.

[Peter ODonnell]

It seems to have nothing to do with Canadian economic conditions, I heard that Nordstrom is undergoing some internal divisions and this flowed from those, also there was not enough interest in buying extremely expensive items when there are dozens of competing outlets with similar goods at more reasonable prices. I don’t get Nordstrom’s business model at all, I think it is based mostly on snobbery, like some diva telling her circle of acquaintances that she paid five thousand for her handbag. Seems like a California west coast sort of a deal. The economy up here is doing okay, I don’t agree with the government on all specifics but overall the economy is doing fine especially compared to 2020. Nordstroms failed to crack the market. No loss.