Retail Council of Canada has released its first study that ranks Canada’s top shopping centres based on annual sales per square foot, size, and annual pedestrian count. Comparisons to top US centres are also made for each of these. The study then provides insight into trends seen among leading malls, including the importance of reinvestment. 

The full PDF study can be downloaded here: Retail Council of Canada Canadian Shopping Centre Study

The study ranks Canada’s top shopping centres by sales per square foot, with Toronto’s Yorkdale Shopping Centre ranking first with a productivity of almost $1651. Vancouver’s Oakridge Centre ranked second with annual sales per square foot of $1,537, followed by Vancouver’s CF Pacific Centre with a productivity of $1,523 per square foot. A total of 30 Canadian shopping centres were ranked as per the report, which will be used as a benchmark for future Retail Council of Canada shopping centre studies. 

Canada’s 10 largest shopping centres are revealed in the study and, with no surprise, West Edmonton Mall is first. The Edmonton mall features retail as well as expansive entertainment and food components, reflecting a trend among malls to become ‘entertainment centres’. Toronto’s CF Toronto Eaton Centre ranked second in size, partly due to the vast size of its Hudson’s Bay building component, which also houses Canada’s 170,000 square foot flagship Saks Fifth Avenue store. The Mall of America, located in suburban Minneapolis and under the same ownership umbrella as West Edmonton Mall, ranked second on the continent in terms of size. 

The Retail Council of Canada study then ranks Canada’s top 10 busiest malls by annual visitors (aka ‘footfall’). Remarkably, CF Toronto Eaton Centre, with almost 50 million visitors, sees more people annually than the Las Vegas Strip, Disneyland and Disney World combined, and almost as many as New York City’s Times Square. The Toronto mall is the busiest in North America, with Honolulu’s Ala Moana Center and Minneapolis’ Mall of America trailing by eight and 10 million annual visitors, respectively. 

The study notes, referencing statistics from International Council of Shopping Centres (ICSC), that Canadian malls are, on average, more productive in terms of sales per square foot than those in the United States. Canadian malls averaged $744 (Canadian) per square foot in 2016, while US malls averaged US $466 per square foot. A number of factors may be at play, including the fact that Canada has less retail space per person — according to CBRE statistics, Canada has 16.5 square feet of retail space per person, versus 23.6 square feet in the US. 

Ten Canadian regions are examined in depth, providing demographic information as well as a summary of selected top shopping centres. Regions vary widely, for example, when examining factors such as retail space per capita and average sales per square foot. Vancouver malls rank top in terms of productivity, according to ICSC numbers, averaging a whopping $1,019 per square foot annually. Toronto malls ranked second, at $860 per square foot. 

The Retail Council of Canada study then goes on to discuss some trends in the industry, including expanded entertainment options, renovations and expansions, enhanced food/beverage options, pop-up retail, and the polarization of retail, among others. “Investing in malls with strong anchors, healthy upscale food courts and restaurants is helping drive traffic to stores,” said Farla Efros, President of HRC Retail Advisory, when asked to comment on her opinion about what landlords need to do to keep malls competitive. 

Canadian footwear brand Shumaker (pronounced ‘shoe maker’) has announced that it will open several locations in 2017, including its first two street-front stores. Shumaker has seen impressive growth since opening its first stores in 2015. 

The company was founded in 1948 as a footwear manufacturer and distributor, and is now based in Mississauga. Known for its moderately priced contemporary casual footwear for men and women, Shumaker also boasts wholesale distribution in over 1,600 points of sale across Canada.

Shumaker opened its first physical store locations in 2015, adopting an interior design featuring white interiors with strong red accents. In August of 2015, Shumaker’s first store opened at Peterborough’s Lansdowne Place, followed by locations in Barrie (RioCan Georgian Mall), Bellville (Quinte Mall), Hamilton (CF Lime Ridge), Ottawa (two stores: Carlingwood Shopping Centre and Place d’Orleans) as well as two Toronto area stores (Erin Mills Town Centre in Mississauga and CF Markville in Markham).

Shumaker opened a 1,500 square foot location at Georgetown Marketplace in Georgetown, west of Toronto, on January 12 of this year. The store features an impressive 40 foot frontage, and its lease and design were coordinated in house, according to Shumaker’s Director of Operations, Ishan Singh. 

This spring, Shumaker will open its first-ever street-front store at 202 Princess Street (corner of Montreal St. and Princess St.) in downtown Kingston, Ontario. The store will be considerably larger than the company’s other stores, spanning about 3,000 square feet over two levels. The Kingston store “will be in line with our current store designs and branding, but it shall also incorporate a rustic, urban feel,” according to Mr. Singh. Olivier Raoult of FR Capital Realty Advisory Services negotiated the store’s lease, and the store was designed in-house. 

Another street-front Shumaker location is also confirmed to be opening this year. Located at 2581 Yonge Street in Toronto (between Eglinton Avenue and Lawrence Avenue), the new store will be on a stretch of Yonge Street that is adjacent to some of the city’s most affluent residential areas, including Lawrence Park. The area also boasts unique and upscale retailers such as L’Occitane En Provence, Drake General Store, Lululemon and Sporting Life. Olivier Raoult of FR Capital Realty, also coordinated that lease deal. 

Mr. Singh notes that Shumaker continues to be in discussions with several landlords for locations in Ontario, both within shopping centres as well as urban street-fronts. Mr. Singh says that he is the primary contact for landlords regarding any potential future deals for Shumaker, at this time, and that more locations are expected to be announced in the coming months. 

(Photos are of the newly opened Georgetown store, and were provided by Shumaker)

Nestlé-owned Swiss coffee brand Nespresso will expand its Canadian operations this year, by opening its first permanent freestanding location in Western Canada. The company is working with brokerage Oakmont Real Estate Services for its Canadian expansion, which is expected to include several new Nespresso locations yearly. 

In March of this year, Nespresso will open a 335 square foot boutique at Vancouver’s Oakridge Centre. The jewel-box-like store will be smaller than most freestanding Nespresso locations, many of which surpass 2,000 square feet in size. While small, Oakridge’s Nespresso will boast a strategic corner location near prestige retailers Tiffany & Co. and Harry Rosen, as per the mall lease plan below. Many retailers do exceptionally high sales at Oakridge, with a new Retail Council of Canada study ranking it as Canada’s second-most productive mall in terms of annual sales per square foot. Nespresso is currently hiring for the new space, and we’ll update this article when we learn of the exact store opening date. 

While unconfirmed, sources say that Nespresso’s Oakridge lease may be for a somewhat limited time, while mall landlord Ivanhoé Cambridge solidifies plans for a shopping centre overhaul. Original redevelopment plans are being modified by the landlord, following the discovery of an aquifer below the site. 

Nespresso opened its first freestanding location on Montreal’s Rue Crescent in 2009, followed by a spectacular 14,000 square foot Toronto location (designed by Italian firm Goring & Straja) in the fall of 2013, in a former theatre on Yorkville’s Cumberland Street. Both of these are ‘boutique-bars’, according to Brand Manager Caroline Delvaux in an interview last year, with both locations serving food as well as drinks and coffee makers/pods. 

Nespresso operates five other freestanding Canadian locations, which are considered ‘mall-based’ boutiques that primarily sell coffee makers and pods. These include stores at CF Sherway Gardens and at Yorkdale Shopping Centre in Toronto, at Place Ste-Foy in Quebec City, at CF Carrefour Laval near Montreal, and at CF Rideau Centre in Ottawa. The new Vancouver Oakridge location will fall under Nespresso’s ‘mall-based’ store classification, as well. 

Nespresso also operates shop-in-stores at Hudson’s Bay stores in Montreal (downtown flagship), Toronto (Queen Street flagship, Yorkdale), Vancouver (downtown flagship), Edmonton (Southgate Centre) and in Calgary (CF Chinook Centre). Like the ‘mall-based’ stores, these locations sell coffee makers and pods. 

Nespresso also operates a pop-up program nationally, which has seen temporary Nespresso stores in various shopping centres. As of this week, Nespresso pop-ups are at Toronto’s CF Fairview mall, Surrey’s Guildford Town Centre, Calgary’s Southcentre, and in Montreal at CF Galeries d’Anjou and CF Promenades St-Bruno. 

According to representative brokerage Oakmont Real Estates Services’ website, Nespresso is seeking retail spaces in enclosed shopping centres, as well as on high streets, ideally in the 2,000 square foot to 3,000 square foot range. The website also notes that Nespresso may open between two and three stores a year in Canada, as well as between three and six pop-ups annually. Oakmont’s Ben Labrecque (1-514-917-5015) and Iqbal Kamboj (1-514-777-7198) are the broker contacts for the brand in Canada. 

Upscale Toronto-based tableware and giftware retailer William Ashley is relocating its Manulife Centre store to a new space this year. Its new location will be in what some consider to be Canada’s most prestigious retail address — Morguard’s The Colonnade at 131 Bloor Street West. William Ashley will occupy a temporary ground-level space that will open to the public next month, while the company’s full-sized store is expected to open in about seven to eight months. 

William Ashley moved into its current 24,000 square foot 55 Bloor Street West space (with about 20,000 square feet of retail) at the southwest corner of Bloor Street West and Balmuto Street in 1994, replacing former women’s luxury retailer Creeds which went bankrupt in 1991. William Ashley was founded in 1947 by Tillie Abrams (who passed away in 2010), and opened its first Bloor Street store in the 1950’s. In the early 1970’s, William Ashley was the first store in Canada to offer a wedding registry service. William Ashley boasts the largest selection of tableware, giftware, and gourmet kitchenware in the world, and this year marks the 70th anniversary for the venerable retailer.

On February 1 of this year, William Ashley will relocate to a temporary 3,840 square foot retail space at 131 Bloor Street West, in part of the space formerly occupied by Sephora before it recently relocated up the street. The pop-up will operate for several months while a new, spectacular William Ashley is constructed, which will boast 23 foot ceilings, natural light and a new interior to showcase the retailers vast product assortment from some of the world’s top brands. 

William Ashley’s new Bloor Street store will span two levels and about 15,000 square feet of retail space. Its ground floor will span about 1,000 square feet, taking over the current lobby space of The Colonnade. Teuscher of Switzerland chocolates, which is housed in the current William Ashley store, will move into part of the new street-level space. William Ashley’s 14,000 square foot second floor will encompass the current second level of the Herzig Eye Institute and adjacent retail, as well as the common area in The Colonnade as per the floor plan below. Natural light will flood the new space from unique oval south-facing windows in the current Eye Institute, while the north side of the store will feature ample exterior light from windows rising up to the floor’s soaring ceilings. 

Toronto-based DesignAgency designed the new space, which it describes as having “a series of modern contemporary fixtures, environments and experiences wrapped and woven over two floors through the heart of the landmark Colonnade Building on Bloor Street,” going on to say that its goal is “to create an enveloping environment that is the very definition of William Ashley – all the while allowing the array of stunning products to tell their own unique stories.”

According to William Ashley’s president, Jackie Chiesa, the new Colonnade store will feature enhanced customer service experiences that will include technology, personalized services (including wedding registry, corporate services and interior design) as well as an entirely new store design to showcase William Ashley’s prestigious assortment of goods. There will be a private shopping area for customers who prefer privacy, as well as a ‘venue space’ to host special events. 

Scott Harris, General Manager of Retail at Morguard said: “We are thrilled to welcome William Ashley to The Colonnade as part of the new line up of luxury retailers at the iconic building. William Ashley is the perfect complement to The Colonnade, adding the world’s finest Tableware and Home Decor brands to our international assortment,” also mentioning that “the Colonnade was Canada’s first mixed-use building featuring chic retailers.  From its opening in 1963 to today, an era of best-in-class retailers continues to serve the demands of Bloor Street shoppers seeking exceptional product.”

William Ashley is vacating its Manulife Centre retail space as part of the shopping centre’s $100 million overhaul, which will see expanded and renovated retail space, new retailers, and the addition of Canada’s first Eataly location on its second level. 

We look forward to the opening of the new William Ashley store later this year at The Colonnade, and will provide updates including photos of what is expected to become one of Canada’s most beautiful retail environments. William Ashley will be neighbours with prestigious retailers at The Colonnade including Cartier, Mulberry, Escada, Black Goat Cashmere, Coach, and a substantially expanded Prada, as well as new store locations for Moncler and Christian Dior, both of which will open later this year.