The Retail Apocalypse

[longfortheoldview]

Miniso in the base of Smart House is closing next week.

 

[onthestreet]

Signage is up at Ted Baker and Brooks Brothers locations, including Brooks Brothers on Bloor and Royal Bank Plaza and the Ted Baker at CF Toronto Eaton Centre.

10-30% to start. Websites are on maintenance mode.

Ted Baker, Brooks Brothers and Lucky Brand Stores in Canada to Close Following Financial Struggles

Following a filing for creditor protection last month, the Canadian division is shutting down the operations of three iconic brands in Canada with 25 stores.

retail-insider.com

 

[AlbertC]

Makes sense. I've bought more sweatshirts and sweatpants in recent years than I have for formal wear.

 

[TossYourJacket]

Ooof they just took over the former Club Monaco on Bloor. Hopefully that gets another tenant soon.

 

[Admiral Beez]

The newly opened De Beers store seems to be a bust and it escapes me why they opted to open their Toronto store at Sherway instead of Yorkdale or Bloor Street where the real money is.

De Beers is bust.

De Beers to be sold

British multinational mining company Anglo American has confirmed its plans to sell its diamond subsidiary, De Beers, publicly stating that De Beers will be “divested or demerged” from its portfolio. Anglo American currently holds 85 per cent of De Beers’ shares, the remaining 15 per cent is...

www.jewellerybusiness.com

Synthetic diamonds are likely hitting their bottom line and especially projected future earnings.

Synthetic Diamonds Can Now Be Made In Minutes. Here’s What That Could Mean For The Industry.

The gemstone industry doesn’t need to panic today.

twistedsifter.com

Though the mining industry seems to be in denial.

Lab diamonds just won a battle, not the war

Despite the hype, man-made diamonds only account for 20% of global diamond jewellery sales and analysts expect their price to fall.

www.mining.com

 

[Admiral Beez]

A growing number of small businesses owners say they can’t fight Amazon and other big online retailers — here’s why one is packing it in

During the pandemic online shopping boom small businesses turned to e-commerce to stay afloat. But making a profit has been difficult.

www.thestar.com

Paywall free: https://archive.ph/4kKUD

I was reading this article today and noted to myself that outside of food and utilities I buy very little of anything, either online or in traditional retail.

 

[onthestreet]

Plus has shuttered 7 of its 8 stores in the chain, including CF TEC, Yorkdale and Vaughan Mills.

PLUS Closes 7 of 8 Stores, Including Yorkdale Flagship, Amid Economic Pressures

The popular sneaker and streetwear retailer opened stores across Canada over a period of seven years, and is now consolidating its operations while navigating a global economic downturn.

retail-insider.com