In Ottawa, the move will leave anchor space in the Rideau Centre shopping centre vacant.
Nordstrom opened its first Canadian store in Calgary in 2014, followed by the Ottawa store, which occupied the
The departure from Canada is not a particular reflection of Ottawa’s notoriously frugal shopping culture, but the capital’s retail ecosystem has had few long-lived luxury retail survivors. Bretton’s department store left the Rideau Centre after a few years in the mid-1980s. Holt Renfrew, which hung on for 78 years, left Ottawa in 2014.Article content
Ottawa residents have been feeling the pinch of the declining value of investments, while the cost of necessities has increased. There are a lot of people in the middle-income range in the capital — about half of Ottawa’s 410,000 households earn over $75,000 — but there are not a lot of rich people, he said.Article content
Nabatian predicts Ottawa shoppers will have second thoughts about spending for the next year or two. A recession is almost certainly on the way and that could lead to the closures of other stores selling luxury goods.
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