The Retail Apocalypse

[torontowest91]

The Drake general store is closing at Sherway and so is London Links.

I went around the mall and counted 19 store fronts either closing, closed or never even opened. I feel CF dropped the ball making that mall into something that it isn't ment to be.

with
Victoria secret/pink
RYU
Thomas Sabo
Jacardi
EB Games

Can’t be a good sign. Usually Sherway attracted a bunch of new retail. What could they still add. Uniqlo?

 

[Admiral Beez]

"Everyone else", will have to find a way to adapt around this current retail landscape. Expeirental or adding grocery stores or Walmarts is the way to go now. Malls like Woodbine Mall are failing for a reason.

Perhaps malls will be seen like golf courses, with multinationals buying them up as holding inventory for future residential projects. Sherway, for example would make for a fantastic residential project with a transit hub.

 

[thettctransitfanatic]

Perhaps malls will be seen like golf courses, with multinationals buying them up as holding inventory for future residential projects. Sherway, for example would make for a fantastic residential project with a transit hub.

Sherway does have some residential surrounding it, and more on the way. Sadly, with the current political landscape I don't see Line 2 being extended there

 

[tiffer24]

Furniture retailer Pier 1 Imports closing all Canadian stores, filing for bankruptcy protection.

https://www.theglobeandmail.com/bus...pid=rss&utm_source=dlvr.it&utm_medium=twitter

 

[jje1000]

Apocalypse on the horizon:

These are the retailers closing in Canada or facing bankruptcy in 2020

It's a 'retail apocalypse' across the country as a growing number of consumers from coast-to-coast choose online shopping over trips to the mall. CTVNews.ca compiled this roundup of the major chains closing stores in Canada.

www.ctvnews.ca

 

[christiesplits]

As lenaitch noted here , Home Depot seems to be dodging the downward trend in retail.

 

[Tuscani01]

As lenaitch noted here , Home Depot seems to be dodging the downward trend in retail.

Canadian Tire is doing well too:

In the fourth quarter of 2019, comparable sales at Canadian Tire stores open more than a year – an important retail metric – rose 4.8 per cent, excluding petroleum sales. That represented a “meaningful” growth in market share for the flagship stores, executives said on the conference call. At Sport Chek, comparable sales grew 2 per cent in the quarter, and at Mark’s, comparable sales growth was 1.8 per cent.

“Our traffic was up substantially. Our sales from our high-value customers and our loyal customers are up substantially. Our web traffic is up substantially. All other things being equal, up against the competition, we had to steal market share,”

Canadian Tire expanding in-store pickup program to support growing e-commerce efforts

Retailer reports revenue of $4.3-billion in the latest quarter, up from $4.1-billion a year earlier

www.theglobeandmail.com

 

[AlbertC]

Victoria’s Secret Quietly Closing Canadian Stores

February 24, 2020

By Mario Toneguzzi

The struggling Victoria’s Secret brand has been quietly shutting down some of its stores in Canada.

The latest is the lingerie and bra retailer’s location in CF Market Mall in Calgary after it shut down operations in CF Sherway Gardens in Toronto, CF Richmond Centre near Vancouver, and CF Rideau Centre in Ottawa.

Victoria’s Secret Quietly Closing Canadian Stores

One major landlord says that the US-based lingerie and underwear retailer has seen plummeting sales in Canada over the past two years.

www.retail-insider.com

 

[jje1000]

Speculation- if Coronavirus ever causes 1-3 months of epidemic conditions in North America, I think a majority of brick-and-mortar chains may not make it.

This is added on top of the supply chain issues coming out of China as well atm.

 

[Jonny5]

Le ménage est commencé chez Ivanhoé Cambridge

Ivanhoé Cambridge a mis fin à l’emploi du responsable des centres commerciaux dans la foulée de résultats décevants produits par la filiale immobilière de la Caisse de dépôt et placement du Québec.

www.lapresse.ca

Ivanhoé Cambridge has terminated the employment of the manager in charge of shopping centers in the wake of disappointing results produced by the real estate subsidiary of the Caisse de dépôt et placement du Québec. Claude Sirois, President, Retail, left the company ten days ago, Ivanhoé Cambridge spokesman Sébastien Théberge confirmed to La Presse.

The Caisse will sell a third of its 25 shopping centers in Canada over the next few years, said Ms. Palladitcheff. The Caisse has already started the evaluation of each of its shopping centers in Canada. About a third (eight or nine shopping centers) will be sold. Ultimately, the 16 or 17 shopping centers that will remain the property of the Caisse will have to reinvent themselves.

 

[innsertnamehere]

I've found Ivanhoes' malls to be under-performing compared to their competition. Mapleview and Vaughan Mills are both badly in need of renovations to compete with the level of investment Oxford and Cadillac Fairview have been putting into their malls. Mapleview hasn't been touched in 12 years and Vaughan Mills is largely still the same as when it opened 20 years ago..

Even for Mapleview, their handling of the Sears replacement is haphazard at best. They still only have half the space leased and the work they are doing is lipstick on a pig in terms of actual renovations.

 

[Tuscani01]

I've found Ivanhoes' malls to be under-performing compared to their competition. Mapleview and Vaughan Mills are both badly in need of renovations to compete with the level of investment Oxford and Cadillac Fairview have been putting into their malls. Mapleview hasn't been touched in 12 years and Vaughan Mills is largely still the same as when it opened 20 years ago..

Even for Mapleview, their handling of the Sears replacement is haphazard at best. They still only have half the space leased and the work they are doing is lipstick on a pig in terms of actual renovations.

There's no way Vaughan Mills is 20 years old. I remember the day it opened, as I worked across the street at my first job - and there's no way i'm nearly 40 years old now ?

 

[AlvinofDiaspar]

There's no way Vaughan Mills is 20 years old. I remember the day it opened, as I worked across the street at my first job - and there's no way i'm nearly 40 years old now ?

You are correct - it opened in 2004! My understanding was that VM was more an outlet mall than an actual mall in terms of customer placement.

AoD

 

[Tuscani01]

You are correct - it opened in 2004! My understanding was that VM was more an outlet mall than an actual mall in terms of customer placement.

AoD

Thanks. I feel young again.

 

[AlvinofDiaspar]

Thanks. I feel young again.

Not that young - the 40 is just around the corner ?

AoD