The Retail Apocalypse

[Towered]

Another loss of a multi-store retailer. Factory Direct is set to liquidate its inventory starting tomorrow. Made it to 24 stores at the height of popularity and left with 14 stores across the province.

Factory Direct to Shut All 14 Stores Amid Bankruptcy, Liquidation to Begin Saturday

The company, founded in 1995, is one of Canada’s largest privately owned discount retailers which struggled with declining sales and increasing costs following the pandemic.

retail-insider.com

Such a garbage chain anyway.

 

[AlbertC]

The Body Shop to close 33 Canadian stores and end online sales:

Body Shop Canada files for bankruptcy protection, plans restructuring

The Body Shop Canada Ltd. says it will close 33 stores and halt its e-commerce operations as it seeks to restructure itself under the Bankruptcy and Insolvency Act.

www.ctvnews.ca

Ontario: Bayview Village (Toronto), Carlingwood Mall (Ottawa), Cataraqui Town Centre (Kingston), Dufferin Mall (Toronto), Fairview Park Mall (Kitchener), Lambton Mall (Sarnia), Lansdowne Place (Peterborough), Lynden Park Mall (Brantford), Place d'Orleans (Orleans), Queen Street East (Toronto), Rideau Centre (Ottawa), Stone Road Mall (Guelph), The Shops at Don Mills (Toronto), Timmins Square (Timmins), Toronto Pearson Term. 1 (Toronto)

 

[christiesplits]

'Nobody needs an extra coat': Apparel sector braces for another year of no splurging​

'Nobody needs an extra coat': Apparel sector braces for another year of no splurging

TORONTO - Despite an unseasonably warm winter, there's a chill across the Canadian retail landscape.

www.thestar.com

Greg Hicks, the president and chief executive of Mark's and SportChek-owner Canadian Tire Corp., blamed "rising interest rates, stubborn inflation impacting discretionary spend and unfavourable weather" for the company's fourth-quarter profit dropping 68 per cent from a year earlier.

The challenges aren't letting up with credit card data he recently reviewed showing competition across clothing retailers is high.

"Apparel-focused retailers are having a real challenge on the top line and we're therefore seeing the intensity ramp quite a bit," Hicks said.

 

[AlbertC]

Yep, can't see folks in an urgent mood to get another $1000+ jacket right now.

 

[TossYourJacket]

If I remember correctly, an unseasonably warm winter or two is what caused Danier to file for bankruptcy a few years back due to an inability to shift any of their winter stock. Would not be surprised if we see this winter lead to another brand or two having major problems.

 

[Dan416]

I still have the same Moose Knuckles jacket I bought like a decade ago. Haven't felt the need to change it, considering it's still in relatively decent shape and the last two winters weren't so bad.

 

[torontowest91]

same, i feel like i wore my goose less than 20 times this winter

 

[christiesplits]

Yep, can't see folks in an urgent mood to get another $1000+ jacket right now.

Canada Goose is laying off staff to "rein in costs amid weaker consumer spending."

Canada Goose to reduce 17 per cent of corporate workforce

Canada Goose GOOS.TO, GOOS.N on Tuesday said it would be reducing about 17% of its corporate roles, as the luxury parka maker looks to rein in costs amid weaker consumer spending.

www.cp24.com

 

[Towered]

The logic of spending $1000+ on one of these boring Canada Goose jackets is completely lost on me, when you can walk into any random independent vintage shop or Value Village and pick up a winter coat that's actually interesting looking for 50 bucks or less. I have quite the eye catching collection at this point! Oh well, let people waste their money needlessly if they want!

 

[torontowest91]

The logic of spending $1000+ on one of these boring Canada Goose jackets is completely lost on me, when you can walk into any random independent vintage shop or Value Village and pick up a winter coat that's actually interesting looking for 50 bucks or less. I have quite the eye catching collection at this point! Oh well, let people waste their money needlessly if they want!

Well my coat was $750 in 2014, now the same coat is $1,750 in 2024

Doubled in cost in 10 years? Seems a bit much...

 

[Bayer]

Well my coat was $750 in 2014, now the same coat is $1,750 in 2024

Doubled in cost in 10 years? Seems a bit much...

I have a great Timberland down-filled coat that is similar to Canada Goose and that I bought for a couple of hundred dollars about 20 years ago. I didn't wear it once last season because it wasn't a winter worthy of the name. (It usually isn't because I'm from Québec City, where they have real winters.)

 

[AlbertC]

Red Lobster considers bankruptcy

Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs

(Bloomberg) -- Seafood restaurant chain Red Lobster is mulling a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to people with knowledge of the matter. Most Read from BloombergUS Yields Spike as Hawkish Powell Puts 5% in Play: Markets WrapDubai Grinds to Standstill...

finance.yahoo.com

 

[Towered]

Red Lobster considers bankruptcy

Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs

(Bloomberg) -- Seafood restaurant chain Red Lobster is mulling a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to people with knowledge of the matter. Most Read from BloombergUS Yields Spike as Hawkish Powell Puts 5% in Play: Markets WrapDubai Grinds to Standstill...

finance.yahoo.com

Not that shocking. Seems like a fairly dated chain.

 

[lenaitch]

I have a great Timberland down-filled coat that is similar to Canada Goose and that I bought for a couple of hundred dollars about 20 years ago. I didn't wear it once last season because it wasn't a winter worthy of the name. (It usually isn't because I'm from Québec City, where they have real winters.)

I just saw this discussion and there is no way I would pay what they want for a CG parka. I have an old Woods parka I bought in the late '70s before I moved north. It is good to -40* which is way too warm for southern Ontario. I think I've worn it maybe a half dozen times in the past decade, but I can't bring myself to part with it. I also have a MEC parka I bought a few years ago that is very warm and nowhere near the price of CG. When it comes to being warm, I don't really care what I look like.

 

[torontowest91]

not many red lobsters left - Etobicoke? Downtown?