It’s been another busy week in Canadian retail, with some interesting developments in shopping centre redevelopment, employment, technology and the changing strategies of some of the country’s best-known retailers.
One of the biggest stories continues to be what happens to the enormous spaces once occupied by department stores and other large retailers. Across Canada, landlords are finding new uses for former Nordstrom, Hudson’s Bay and Toys “R” Us locations, bringing in everything from grocery stores and off-price fashion retailers to entertainment attractions and specialty brands. It’s a significant change from the days when a single department store could anchor an entire section of a shopping centre, and we’re likely to see considerably more of these transformations in the years ahead.
The employment picture is also worth watching. Recent job losses in wholesale and retail trade, alongside a higher unemployment rate, raise questions about consumer confidence and the outlook for the industry. At the same time, some retailers are continuing to expand, invest in new concepts and explore technologies that could help them operate more efficiently. It’s a reminder that the challenges facing Canadian retail aren’t being felt equally across the sector.
We’ve also seen some notable leadership changes and further developments in artificial intelligence, both of which could influence how retailers approach growth and customer engagement. There’s plenty of uncertainty in the market, but also considerable investment and experimentation as businesses adjust to changing conditions.
Here are some of the stories and developments that caught our attention this week.
Retailer News
Giorgio Armani has established its only standalone Canadian boutique along with the country’s first Armani/Caffè at Vancouver’s Oakridge Park, expanding the brand’s luxury footprint and enhancing the mall’s status as a high-end retail destination. At Holt Renfrew Vancouver, luxury retail activity continues with Gentle Monster opening a new eyewear boutique featuring kinetic art, while Brunello Cucinelli rearranges its men’s and women’s sections, as Tiffany & Co. exits after 30 years to pursue standalone stores, illustrating shifting approaches by luxury brands within the city’s retail landscape.
Cadillac Fairview is actively transforming traditional department store spaces, nearing leasing deals for the former Hudson’s Bay location at CF Chinook Centre in Calgary and moving ahead with plans to repurpose the former Saks and Nordstrom sites. At Toronto’s CF Sherway Gardens, the former Nordstrom space is set for redevelopment into a 100,000-square-foot mixed-use area combining specialty retailer Imaginaire, off-price fashion chain WINNERS, and entertainment venue Splitsville Bowl, targeting an opening in fall 2027 as retailers and landlords seek diversified mall traffic drivers. Primaris REIT has secured replacement tenant agreements for six former Toys “R” Us stores across Canada, covering roughly 145,000 square feet with tenant occupancy expected in 2027, aiming to boost rental income through repositioning of large retail spaces amid evolving market pressures.
Retailer Financials / Trends / Reports
Canadian wholesale and retail trade employment continued its decline in October, shedding 29,000 jobs and contributing to a year-long loss of 113,000 positions amid rising national unemployment at 6.7%. This sustained labour contraction poses challenges for retailers and landlords who need to adjust labour strategies and consumer engagement in response to tighter workforce availability and growing financial strain on households.
Cineplex reported record third-quarter revenue of $440.2 million, with adjusted EBITDA more than doubling to $70.7 million on increased movie attendance and higher per-guest spending. This strong cash flow and operational momentum supports Cineplex’s ongoing strategic review, including a potential sale, reflecting confidence in its premium experience offerings that may attract both retail and commercial real estate investors.
Retailer People News
Serruya Private Equity has appointed Jenny Frankel, founder of Nudestix, to lead The Body Shop and support retail strategy across its portfolio. Frankel’s experience of over 25 years in building prestige beauty brands and her Canadian retail connections will shape both physical and digital growth initiatives.
Retailer Op-Eds
Sylvain Charlebois questions the value of the grocery industry’s annual supplier price freeze, highlighting how it does not translate into stable prices for consumers at the checkout. His analysis shows that while supplier negotiations pause, monthly food prices continue to climb, which means Canadian shoppers see little relief despite the price freeze.
Editor’s Take
One of the more remarkable changes in Canadian retail is how quickly the traditional department store model is being replaced by something entirely different. Large spaces once occupied by Nordstrom and Hudson’s Bay are being divided among multiple tenants, bringing together retailers, grocery stores and entertainment attractions that might not previously have shared the same part of a shopping centre. Cadillac Fairview’s redevelopment projects at Sherway Gardens and Chinook Centre illustrate how landlords are finding new opportunities in properties that were originally designed around a handful of major anchors.
There’s a financial argument behind these changes, of course. Multiple tenants can generate stronger rental income while bringing different customers into a property throughout the day and week. But there’s also a broader shift underway in how shopping centres compete for attention. A bowling alley, specialty retailer or grocery store can give people a reason to visit that goes beyond traditional fashion shopping. The challenge for landlords will be ensuring these new combinations actually work together and deliver sustainable results, particularly given the substantial costs of redeveloping large spaces.
Technology is creating another interesting divide. Walmart’s introduction of its Sparky AI shopping assistant in Canada demonstrates how quickly artificial intelligence is moving from experimentation into everyday retail operations. Walmart has reported that U.S. customers using Sparky have average order values 35% higher than those who don’t, although that doesn’t necessarily mean the technology itself is responsible for the difference. The bigger question is whether these tools can build lasting customer relationships rather than simply encourage larger individual purchases.
Meanwhile, the latest employment figures are a reminder that the broader retail environment remains challenging. Job losses in wholesale and retail trade point to pressure in parts of the sector, even as some companies continue investing in new stores, technology and customer experience. We’re also seeing very different outcomes among retailers, with companies such as Kits Eyecare reporting growth while others, including Canada Goose, contend with changing demand and consumer spending patterns.
What stands out to me is that Canadian retail isn’t moving in a single direction. Some businesses are expanding aggressively, others are rethinking their physical footprints, and many are trying to make existing operations more productive. Consumers still want value, convenience and good service, but they’re increasingly selective about which retailers earn their business.
For landlords and retailers alike, the opportunity isn’t simply to offer more. It’s to understand what customers actually want, invest where it makes sense and give them a compelling reason to return.
This Week’s Articles
Retailer News
- Walmart Canada Opens Holiday Pop-Up in Historic Downtown Toronto Building — Craig Patterson — Nov 7
- Canadian Jewellery Brand Steff Eleoff Opens New York Pop-Up with Shopify — Craig Patterson — Nov 6
- Winnipeg retail market attracting major new brands to CF Polo Park: GM interview — Mario Toneguzzi — Nov 6
- Giorgio Armani Opens Only Standalone Canadian Boutique and First Armani/Caffè at Oakridge Park — Craig Patterson — Nov 6
- Holt Renfrew Vancouver Sees Luxury Boutique Shakeup as Brands Arrive, Relocate and Depart — Craig Patterson — Nov 6
- CF Chinook Centre prepares new retail announcements as major leasing deals advance — Mario Toneguzzi — Nov 6
- The Magnum Ice Cream Company Launches Yasso Frozen Greek Yogurt Brand in Canada — Mario Toneguzzi — Nov 6
- CFIB Criticizes Federal Budget 2026 for Failing to Deliver Tax Relief and Tariff Support for Small Businesses — Mario Toneguzzi — Nov 6
- Sephora to Reach 150 Canadian Stores as Prestige Beauty Competition Intensifies — Craig Patterson — Nov 6
- Apple’s AI Strategy Is Reshaping Its Hardware and Services Economics — Lee Rivett — Nov 5
- Primaris Expands Méga Parc with $1 Million Atlas Mini-Golf Attraction — Craig Patterson — Nov 5
- Samsung Canada Takes Smartphone Rivalry to the Streets with Three-City Billboard Campaign — Craig Patterson — Nov 5
- Apple Raises Canadian iPhone, Mac and iPad Prices as Memory Costs Surge — Lee Rivett — Nov 5
- Apple Maps Advertising Goes Live in Canada, Giving Retailers Another Way to Reach Shoppers — Lee Rivett — Nov 5
- Casavogue Highlights Canadian-Made Bermex Dining Furniture — Retail Insider — Nov 5
- The Kitchen to open 9,000-square-foot dining destination at Toronto’s Mirvish Village in 2027 — Mario Toneguzzi — Nov 5
- Canadian Tire expands Hudson’s Bay Stripes collection with KitchenAid, Owala partnerships — Mario Toneguzzi — Nov 5
- RioCan Retail Occupancy Hits Record 98.9% as Leasing Demand Drives Rental Growth: Executive interview — Mario Toneguzzi — Nov 5
- Intuit Mailchimp research finds personalized emails boost Canadian holiday shopping sales — Mario Toneguzzi — Nov 5
- Gildan cuts 2026 outlook as weaker apparel demand weighs on third-quarter sales — Mario Toneguzzi — Nov 5
- Hirevue examines how AI is changing holiday hiring as employers prepare for seasonal rush — Mario Toneguzzi — Nov 5
- Popeyes Canada launches Honey Chicken Biscuit for a limited time — Mario Toneguzzi — Nov 5
- Bio-K+ expands retail distribution across Canada and U.S. with new partnerships and product launches — Mario Toneguzzi — Nov 5
- Mandy’s Gourmet Salads to launch Calgary delivery service through Uber Eats — Mario Toneguzzi — Nov 5
- Morguard Reports 90.3% Retail Occupancy as Third-Quarter Retail NOI Declines — Mario Toneguzzi — Nov 5
- Plaza Retail REIT reports higher earnings, occupancy and cash flow in third quarter — Mario Toneguzzi — Nov 5
- SmartCentres reports higher occupancy and retail leasing growth in third quarter — Mario Toneguzzi — Nov 5
- Peloton Rebuilds Canadian Retail Presence Through Fitness Factory Partnership — Craig Patterson — Nov 4
- KIT + ACE Expands Canadian Network to 18 Locations with Brentwood Store, Prepares U.S. Entry — Craig Patterson — Nov 4
- Canadian Tire invests $200 million in Mark’s store expansion, opens largest location in Thunder Bay (photos/video) — Mario Toneguzzi — Nov 4
- Cinema Cellar Reopens Permanent Toronto Store as Demand for Physical Movies Grows — Mario Toneguzzi — Nov 4
- Yoé Eyes Canadian Prestige Retail Expansion as Luxury Biotech Skincare Brand Grows in U.S. — Mario Toneguzzi — Nov 4
- Nearly half of young Canadians fear credit scores could hinder major financial milestones: Equifax — Mario Toneguzzi — Nov 4
- Google expands AI-powered shopping and direct checkout to Canadian consumers — Mario Toneguzzi — Nov 4
- Foodtastic Proposes to Acquire MTY Food Group for $43 Per Share in near $1-billion deal — Mario Toneguzzi — Nov 3
- Sunterra shutting down another location in Alberta — Mario Toneguzzi — Nov 3
- Toys“R”Us Canada to Make Comeback Through Nearly 300 Staples Stores — Craig Patterson — Nov 3
- How AI-Powered Shopping Recommendations Are Changing Holiday Retail and Brand Loyalty: Amperity — Mario Toneguzzi — Nov 3
- Small businesses risk losing holiday shoppers by failing to plan for repeat business: Constant Contact — Mario Toneguzzi — Nov 3
- Alberta Small Businesses Face Rising Costs as 40% Report Weaker Performance: Merchant Growth — Mario Toneguzzi — Nov 3
- NatureWell Launches in Canada at Shoppers Drug Mart, Expanding to 1,000 Stores Nationwide — Mario Toneguzzi — Nov 3
- Advent Calendar Demand Surges 63% as Independent Retailers Expand Holiday Offerings: Faire — Mario Toneguzzi — Nov 3
- Retailers expand physical security strategies beyond loss prevention: Genetec — Mario Toneguzzi — Nov 3
- More than half of self-employed Canadians used credit to cover everyday expenses: Money Mentors — Mario Toneguzzi — Nov 3
- Shake Shack Canada announces opening dates for Oakville and Burlington — Mario Toneguzzi — Nov 3
- LenzVU launches guest Wi-Fi service aimed at helping small businesses retain customers — Mario Toneguzzi — Nov 3
- Skip launches McDonald’s giveaway offering 10 Canadians free meals for a year — Mario Toneguzzi — Nov 3
- Imaginaire and WINNERS Join Splitsville in CF Sherway Gardens Nordstrom Redevelopment — Craig Patterson — Nov 2
- Happy Belly signs agreement for 150 Heal Wellness locations in Texas — Mario Toneguzzi — Nov 2
- Cadillac Fairview outlines 2026 holiday programming across Canadian shopping centres — Mario Toneguzzi — Nov 2
- Walmart Brings Sparky AI Shopping Assistant to Canada — Lee Rivett — Nov 2
- The RONA Foundation presents $580,000 to nearly 150 local organizations — Mario Toneguzzi — Nov 2
- Primaris Lines Up New Retailers for Former Toys “R” Us Stores Across Canada — Craig Patterson — Nov 2
- Hockey Card World Sales Jump 50% After Joining Temu Marketplace — Mario Toneguzzi — Nov 2
- Urban Barn opens first New Brunswick store in Moncton, expanding Canadian retail network — Mario Toneguzzi — Nov 2
- Canadians spend nearly 80 hours a year searching for something to watch: Roku — Mario Toneguzzi — Nov 2
- AI Shopping Agents Raise New Security Risks for Retailers Ahead of Holiday Season: Thales — Mario Toneguzzi — Nov 2
- Buy Canadian Movement Creates New Opportunities for Advertisers: Vistar Media — Mario Toneguzzi — Nov 2
Retailer Financials / Trends / Reports
- Retail Insider “Q3 2026 Consumer Behaviour / Retail Economy Report”: Loyal Shoppers Become More Selective — Lee Rivett — Nov 6
- Canadian employment holds steady in October as wholesale and retail trade shed 29,000 jobs: Statistics Canada — Mario Toneguzzi — Nov 6
- Cineplex reports record $440.2M quarterly revenue as adjusted EBITDA more than doubles — Mario Toneguzzi — Nov 6
- Canada Goose Faces Deeper Comparable Sales Declines as Winter Shoppers Delay Purchases — Craig Patterson — Nov 6
- Leon’s Furniture reports higher third-quarter profit despite lower sales — Mario Toneguzzi — Nov 5
- Kits Eyecare reports record third-quarter revenue as glasses sales climb 59% — Mario Toneguzzi — Nov 5
- Retail Insider “Q3 2026 Real Estate & Leasing Report”: Signed Space Must Become Paying Space — Lee Rivett — Nov 5
- Crombie REIT reports higher funds from operations as occupancy reaches record level — Mario Toneguzzi — Nov 5
- Maple Leaf Foods sales surpass $1 billion in Q3 — Mario Toneguzzi — Nov 4
- Retail Insider “Q3 2026 Home Furnishings Report”: The Store Needs a Defined Job — Lee Rivett — Nov 4
- Shopify experiences 32% revenue growth in Q3 — Mario Toneguzzi — Nov 3
- Retail Insider “Q3 2026 Health & Beauty Report”: Growth Depends on the Return Visit — Lee Rivett — Nov 3
- RioCan raises 2026 earnings outlook as retail occupancy reaches record 98.9% — Mario Toneguzzi — Nov 2
- First Capital REIT reports higher third-quarter earnings as rental rates rise — Mario Toneguzzi — Nov 2
- Retail Insider “Q3 2026 Convenience Report”: Food Growth Must Improve Store Economics — Lee Rivett — Nov 2
Retailer People News
- Serruya Private Equity Appoints Jenny Frankel to Support Retail Strategy and Brand Growth and lead The Body Shop — Mario Toneguzzi — Nov 4
Retailer Op-Eds
- A Price Freeze That Doesn’t Freeze Canadian Grocery Bills — Sylvain Charlebois — Nov 4
- From The Desk: Retail real estate shifts, selective expansion and operational discipline — Craig Patterson — Nov 2
