Nordstrom has struggled with slower sales, more markdowns and pressure from activist investor Ryan Cohen.
Miami, Florida, Coral Gables Shops at Merrick Park, Nordstrom Department Store with shopper entering.on Thursday reported lower sales and profits for the holiday quarter, although earnings topped Wall Street's expectations.
"We entered Canada in 2014 with a plan to build and sustain a long-term business there. Despite our best efforts, we do not see a realistic path to profitability for the Canadian business," CEO Erik Nordstrom said in a release Thursday. Nordstrom has struggled with slower sales, more markdowns and scrutiny from a prominent activist investor. Its net income in the period ended Jan. 28 fell to $119 million, or 74 cents per share, from $200 million, or $1.23 per share, a year earlier.
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