Brands Leaving Canada
Starbucks recently announced that it was pulling 200 Starbucks locations out of Canada. The US has been experiencing the same issue. Have some companies outpriced themselves completely.
List of Retailers and Brands Exiting Canada
The following is a comprehensive list of retailers and brands that have exited the Canadian market during and after the pandemic:
Nordstrom and Nordstrom Rack – Closed all Canadian stores in March 2023. They struggled with high operating costs, an inventory glut, and lackluster sales exacerbated by the COVID-19 pandemic. Their rapid expansion and failure to adapt to Canadian consumer preferences led to their downfall.
Bed Bath & Beyond – Exited the Canadian market, leaving significant vacant retail space. Faced financial difficulties due to higher costs than revenue, cultural differences in consumer preferences, and a focus on larger living spaces that did not align with Canadian shopping habits. The pandemic further strained their operations, leading to bankruptcy and store closures.
SoulCycle – Exited Canada amid rent disagreements and a shift towards at-home fitness options during the pandemic, losing market share to competitors like Peloton.
Target – Pulled out of Canada due to operational challenges. The withdrawal was marked by poor customer service, a lack of product selection, bad presentation, and pricing that did not meet customer expectations. The aggressive expansion plan and incomplete supply and pricing strategies resulted in an unpleasant shopping experience for Canadian consumers, leading to the retailer’s eventual exit.
Lowe’s – Exited the market for various reasons. It faced similar challenges, struggling to compete with established Canadian home improvement retailers. The company’s inability to effectively manage inventory and align its product offerings with local preferences led to its closing stores in Canada.
GameStop – Closed operations between 2020 and 2021. Faced financial difficulties and changing consumer behaviors, particularly the shift towards online shopping.
Gymboree – Exited in January 2019.
hmv – Closed in 2017, the music and entertainment retailer struggled to compete with the rise of digital streaming services, leading to its closure in Canada.
Delissio, Stouffer’s, Lean Cuisine, and Life Cuisine – Gradually pulled out post-pandemic.
Skippy Peanut Butter – Recently announced exit.
Bonus: Kleenex – Recently announced exit in 2024
Publishers News: news@publishersnews.com