Nordstrom likes the frozen north, announces plans for four stores in Canada
Seattle-based Nordstrom, like another major US retailier (Walmart) has cast its eyes toward our northern neighbor.
A story in today's WSJ lays out the key details: Nordstrom plans to open four stores in Canada, including three in high-profile former Sears Canada locations, as the high-end U.S. department-store operator makes its first foray outside the U.S.
From the story:
Seattle-based Nordstrom is the latest U.S. retailer to enter Canada, teaming up with Toronto-based property developer Cadillac Fairview Corp. The shoe and apparel chain will take over three locations—in Calgary, Alberta; Ottawa; and Vancouver, British Columbia—from Sears Canada, which is vacating the leases next month. The fourth store will be newly built in Toronto.
"This is a significant milestone for our company," Blake Nordstrom, the company's president, said at joint news conference with Cadillac Fairview in Toronto.
Nordstrom could potentially open two to five more stores across Canada depending on the availability of prime locations, but will remain focused on these initial four, he said. The chain already has 15,000 credit-card holders in Canada.
Nordstrom said it expects to hire 1,000 workers across Canada. The first store is the one in Calgary and it's due to open in the fall of 2014, the story noted.
