U.S. high-end retailer Nordstrom will announce on Thursday that it will open its first four stores in Canada by 2015, industry sources said.
As reported in The Globe and Mail in July, the stores will be located in Pacific Centre in Vancouver, Chinook Centre in Calgary, Ottawa’s Rideau Centre and Sherway Gardens in Toronto.
Three of the outlets are locations being vacated by Sears Canada Inc. this fall. Executives at Nordstrom and Cadillac Fairview, the landlord of the four malls, will unveil the sites at a news conference in Toronto.
The entry of Nordstrom into the Canadian market has been highly anticipated amid growing competition in the retail field, including the arrival of U.S. discounter Target Corp. early next year.
Meanwhile, struggling Sears sold back leases for three of its stores to Cadillac for about $170-million.