Nordstrom Inc. will open four stores in Canada, including three in high-profile former Sears Canada Inc. locations, as the high-end U.S. department-store operator makes its first foray outside the U.S.
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.
Source: Wall Street Journal. Read full article. (link)