From what I hear, the Toronto luxury and retail scene is perhaps one of the best in the world, this coming from luxury brands. This reflects Toronto's stability (relative of course) right now during the recession compared to other world cities like London or NYC. Think about it, Burberry, Hugo Boss coming NOW, during the recession? These retailers who certainly do much more research and have access to much more information surely must be very condifdent in Toronto's retail sector. I think it's great.
BTW. the Bloor Transformation Project has started west now. I was walking on Bloor and the portion in front of Swarovski and Talbots was blocked with construction, and there was a pathway to the building entrance. If that continues west, walking and shopping on bloor will be hell. its al for the better though...