Seattle-based department store chain Nordstrom announced late last week that it will close its operations in Canada because the struggling retailer does not see "a realistic path to profitability" in the Canadian market.
The company is closing its 13 Nordstrom and Nordstrom Rack stores in Canada, resulting in layoffs of 2,500 employees, the company said, according to a report in the Seattle Times.
"This decision will simplify our structure, intensify focus on our growth and profitability goals and position us to create greater value for our shareholders," CEO Erik Nordstrom said, in a statement.
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