Japanese fast-fashion retailer Uniqlo is in advanced negotiations to open a 35,000 square foot store at Toronto’s Yorkdale Shopping Centre, according to the Financial Post. Uniqlo is also negotiating to open other Canadian stores, the first of which could open as early as 2016.
Uniqlo’s negotiations with Yorkdale “are pretty advanced,” according to one source familiar with the talks. The same source says that Uniqlo intends to open both mall-based as well as street-front stores in Canada.
Yorkdale Shopping Centre is in the process of leasing out retail space in a new wing that will be anchored by a 191,000 square foot Nordstrom store. Uniqlo could end up in the new wing alongside Nordstrom, according to lease plans provided by Yorkdale landlord Oxford Properties.
The Financial Post reports that Uniqlo formalized its Canadian trademark in August of 2013, possibly in anticipation of opening Canadian stores.
Last week we reported that according to multiple sources, Uniqlo would open in Canada via Nordstrom. Nordstrom spokesperson John Bailey denied this claim.
Vancouver’s Holt Renfrew store is the top-selling in the company, according to multiple sources. Torontonians may find this news disheartening, considering the chain’s largest store on Bloor Street West once commanded an estimated 25% of the company’s sales. New upscale competitors could affect sales at Vancouver’s Holt Renfrew differently than in Toronto, and we’ll explain more below.
Louis Vuitton concession on the ground floor of Holt Renfrew, Vancouver. Other concessions include Gucci, Dior, Prada and Burberry. Tod’s and Fendi boutiques are also featured. Image Source
Industry insiders have known for a while that Vancouver’s Holt Renfrew store has done very well in terms of sales, and we held off on publishing this article until representatives at Pacific Centre landlord Cadillac Fairview confirmed it during the Vancouver Real Estate Forums 2014, on February 20th. For those unfamiliar, Vancouver’s Holt Renfrew store anchors the north end of Pacific Centre.
Vancouver’s 140,414 square foot Holt Renfrew store is currently the third-largest in the company, surpassed in size only by the 147,000 Calgary store and the (approximately) 180,000 square foot Toronto Bloor Street flagship. Industry insiders expect Vancouver’s Holt Renfrew will expand in size given its successes as well as the desire to expand categories including women’s shoes and its men’s department.
Vancouver’s current Holt Renfrew store opened in the spring of 2007. It replaced a 68,000 square foot Holt Renfrew store that opened in Pacific Centre in the early 1970’s. In 2007, before its relocation, sales at the Vancouver store were estimated to be about $75 million yearly.
Atrium at the centre of Holt Renfrew, Vancouver. This photo is taken from the store’s ground floor accessories hall. Upstairs is womenswear and women’s shoes. Downstairs is a 25,000 square foot men’s store that includes shops for Tom Ford, Prada, Dolce & Gabbana, Armani Collezioni, Ralph Lauren, Thomas Pink and Dolce & Gabbana. Image Source
Holt Renfrew is part of the privately-held Selfridges Group, owned by Toronto-based billionaire Galen Weston. The company won’t provide sales numbers for its stores, although Holt Renfrew’s total sales are estimated to be approximately $800 million per year for its nine stores. Sales estimates of its Toronto Bloor Street store were about $150 million yearly, several years ago. Overall, the company enjoys sales in excess of $1,000/square foot (making it the most productive store, per square foot, of an department store chain in North America) and the Vancouver store could be surpassing sales of $150 million yearly based on our rough calculations. We welcome Holt Renfrew to provide us more accurate numbers for this article.
Women’s designer floor at Holt Renfrew, Vancouver. Designer boutiques include CHANEL, Tom Ford, Akris, Giorgio Armani, Michael Kors, Gucci, Prada, Burberry and Dolce & Gabbana. Other designers carried on this floor read like a who’s who of designers: Oscar de la Renta, Jil Sander, Missoni, Valentino, Marni, Etro, and the list goes on. Photo: Holt Renfrew.
Competition could result in Vancouver’s Holt Renfrew seeing a reduction in sales and ultimately having lower sales than the Toronto flagship. Saks Fifth Avenue and Nordstrom will both open within a block of Vancouver’s Holt Renfrew. This may affect the Vancouver store differently than the same competition in Toronto. In Toronto, Saks and Nordstrom will be geographically separated from Holt Renfrew, as both competitors will be located about two kilometres southward at the Toronto Eaton Centre. Alternatively, Toronto’s luxury shoppers could end up heading southward to do their shopping around the Toronto Eaton Centre, benefitting Saks and Nordstrom and to the detriment of Holt’s on Bloor. This topic warrants a separate article.
Holt Renfrew’s Vancouver store is expected to enjoy its tremendous sales levels for at least another year or two. Nordstrom opens its Vancouver store in the fall of 2015 and we’re awaiting further information on Downtown Vancouver’s Saks Fifth Avenue, which is expected to open within Vancouver’s flagship Hudson’s Bay store.
“It’s a great honour to be recognized as one of Canada’s Best Managed Companies,” said Doug Nathanson, Chief Human Resources Officer, Canadian Tire Corporation. “We have seen a significant cultural shift in the past few years at Canadian Tire that has increased employee engagement, positively impacted financial results and heightened pride in the Canadian Tire brand — all of which is a testament to our dedicated employees and strong leadership team.”
Canadian Tire has operated for over 90 years. The Company has grown to nearly 1,700 retail and gasoline outlets across its umbrella of Companies, which includes Canadian Tire retail stores, PartSource, Gas+, FGL Sports (Sport Chek, Hockey Experts, Sports Experts, Pro Hockey Life, National Sports, S3 and Atmosphere), Mark’s, Canadian Tire Jumpstart Charities and CT REIT, and is supported by Canadian Tire Financial Services. Today, more than 85,000 people are employed across the Canadian Tire enterprise, which was founded in 1922.
“Canadian Tire has always delivered what our customers and communities need for life in Canada, thanks to the loyalty and dedication of our team. Across our family of companies, we are constantly implementing new and sustainable solutions to meet customer, employee and investor expectations, while strengthening our position within the industry,” added Nathanson.
Established in 1993, Canada’s Best Managed Companies is the country’s leading business awards program recognizing Canadian companies that have implemented world-class business practices and created value in innovative ways. Applications are reviewed by an independent judging panel that evaluates how companies address various business challenges, including brand management, new technologies, globalization, leadership, leveraging and developing core competencies, designing information systems, and hiring the right talent to facilitate growth and support corporate culture.
“We believe that there are three vital building blocks to sustainable growth: strategy, capability, and commitment; Canadian Tire Corporation has demonstrated it is a model of success in all three areas and is duly recognized as one of Canada’s Best Managed,” said John Hughes, National Leader of Canada’s Best Managed Companies and Managing Partner, Growth Enterprises, Deloitte.
Did you know that you could spend just $4 on an HDMI cable, and the quality would be just as good as those expensive $50 cords? That’s just one of the myths we’re busting.
In this day and age, it’s easy to fall victim to marketing hype. And while the Internet can be a priceless research tool for separating fact from fiction, when not used correctly, it can also help spread all types of myths that ultimately result in consumers spending more money than they should. From overused buzzwords to high-priced TV cables, we shine light on 11 of the most common tech myths that people still fall for. Brush up on the list now so you don’t get taken for a ride later.
1. 4K TVs Are Better Than 1080p TVs
4K HDTVs offer resolutions that are 4x greater than that of current 1080p HDTVs. But as CNET notes, “if you have 20/20 vision, sit about 10 feet from your TV, and are buying a typical TV (50″ or so), you’re not going to see the additional resolution.” It’s when you sit extremely close to a 4K TV that you begin to notice the difference and even then, CNET says it’s not that apparent. Furthermore, there are some 1080p TVs that offer better picture quality than some of the cheaper entry-level 4K TVs. So regardless of what your local big box store salesperson tells you, 4K resolution is not the holy grail of TVs.
2. Only Off-Brand Tablets See Discounts
We see plenty of deals on off-brand tablets from companies like Emerson and Hisense, but let’s be honest — you probably don’t want a Hisense tablet. Fortunately, you can buy a mainstream tablet from Apple, Amazon, or Google and not pay full price. With competition at an all-time high, we’re seeing an abundance of tablet deals on models that in the past might not have seen any discounts. So if a brand-name tablet is what you want, a discount is always around the corner.
3. 3D Printers Are Notoriously Expensive
Like all new technology, 3D printers were prohibitively expensive when they first hit the tech scene. But increased competition, expired patents, and widespread acceptance of the technology had led to lower prices. In fact, small 3D printers sell for $500 to $800. That’s still considerably more expensive than a laser printer, but deals do exist and prices are slowly dropping.
4. Plasma TVs Are Dead & Not Worth Your Money
Despite manufacturing some of the best plasma TVs in the market, last year Panasonic bowed out of the plasma business, leaving LG and Samsung as the last major supporters of the technology. While the tea leaves look grim for plasma, the door isn’t completely closed as both Samsung and LG have announced their lineup of 2014 plasma TVs. So while Panasonic and its top-rated TVs may be harder to find this year, the plasma torch will be carried (for now) by LG and Samsung.
5. Expensive HDMI Cables Mean Better Image Quality
While you may think the quality of your media relies on the cable that transmits it, you don’t actually need to spend upwards of $50 on an HDMI cord. Variousmedia outlets have debunked this myth, and based on the deals we see, consumers should spend no more than $4 on a 6-foot cable. In fact, Monoprice offers one for $3.54.
6. Faster Processors Translate to Smoother Performance
As consumers, we’ve been trained to believe that a faster processor on a tablet or laptop equates to a smoother experience. That may have been true when the Pentium processor reigned supreme, but today you probably wouldn’t notice the difference between a Core i5 clocked at 2.3GHz and one at 2.5GHz.
Instead, you’re better off looking at the number of cores in the processor. A dual-core system is sufficient for everyday computing (streaming HD movies, Twitter, Facebook), but a quad-core CPU (accompanied by a graphics card) will offer more horsepower for HD video editing or playing the latest PC games at full resolution. Likewise, more RAM and a solid state drive can all help increase the speed of your device, independent of what processor lies inside.
7. Apple Products Never See Discounts
Shopping exclusively at the Apple Store is bad for your wallet. As we’ve noted before, deals on Apple products can come as quickly as two days after a product’s debut — that is, if you shop at authorized resellers. And though you may think Apple’s Black Friday Sale is the sale of the year for the Apple faithful, the truth is we see better Apple sales from resellers year-round. The iPhone 5S, for instance, is currently selling for $199 via Apple. Shop around at retailers like MacMall, Best Buy, and Amazon, and you’ll see that the 16GB model has already hit a price low of $125; a price point you may never see if you shop exclusively at the Apple Store.
8. Refurbished Electronics Are Always Scratched and/or Dented
While refurbished electronics are often stigmatized as “rejects,” many of them have actually undergone better and more rigorous testing standards than new products. In addition, they can offer savings of up to 50%. When buying refurbs, we recommend researching who you’re buying from. For instance, Apple, Amazon, and Best Buy offer an assortment of refurbs that have undergone thorough testing standards. Read our complete list of the top brands for refurbished goods for more information.
9. Always Splurge on an Extended Warranty
Extended warranties are pure profit for retailers, as they pocket more than 50% of an extended warranty’s cost. Rather than be bullied into buying one the next time you’re at a retail store, take a look at the warranty provided by the manufacturer (which oftentimes is more than sufficient) and research warranties provided by third parties like SquareTrade. Moreover, some credit cards will automatically double the original manufacturer’s warranty for up to a year when you pay with their card.
10. Black Friday Is the Best Time to Shop for Consumer Electronics
While it’s true that November sees the deepest discounts on many electronics — thanks in part to Black Friday season and Cyber Monday — the discounts are traditionally for cheaper, off-brand items. Brand-name HDTVs and high-end laptops, for instance, see better deals in the months after Black Friday. For the best time to buy specific gadgets, follow our monthly buying guides.
11. New Gadgets Offer the Full Storage Capacity They Advertise
It’d be great if laptops and tablets offered the exact storage space they advertise, but the reality is many of these hard drives come pre-loaded with software, which may diminish some of their advertised storage capacities. (You’ll usually find a disclaimer on the packaging that states something about the product’s actual formatted capacity.) While the lost storage space is usually unnoticeable, in the case of laptops with solid state drives (SSD) — like Apple’s MacBook Air — the diminished capacity is very noticeable and could turn your 64GB laptop into a 48GB machine.
Understanding technology can be tricky to the uninitiated. But that doesn’t mean you should be taken advantage of. With a little research and the right guidance, you can avoid the marketing bait and shop like a savvy consumer.
The name change will happen once Complexe Les Ailes’ anchor tenant, Les Ailes de la Mode, closes. The store was initially expected to close in February of 2014. Both malls will be renovated to create a unified appearance and branding.
With an estimated 26 million visitors annually, the Montreal Eaton Centre is also one of Canada’s busiest malls. It opened in 1990, adjacent to a 1 million square foot Eaton’s department store. Following Eaton’s bankruptcy and store closure in 1999, the lower part of the department store’s space was converted to a 223,000 square foot Les Ailes de la Mode store. Les Ailes opened with much fanfare in 2002, though it proved too large to be profitable. In 2004 Les Ailes was reduced in size to about 77,000 square feet and Complexe Les Ailes was expanded.
The newly created shopping centre will be part of a massive spending project by Ivanhoe Cambridge to update several of its Montreal commercial properties.
Struggling Quebec department store retailer Les Ailes de la Mode will close its Ste-Foy (suburban Quebec City) and Brossard (suburban Montreal) stores. This follows news that Les Ailes’ Montreal flagship will also close. Landlord Ivanhoe Cambridge will buy-out Les Ailes’ leases for an unspecified amount.
In the 1990’s and into the early 2000’s, Les Ailes was described as Canada’s answer to Nordstrom. Over the years, Les Ailes saw its business decline as it essentially became a large discount store. The store’s first owner, San Francisco Group, went bankrupt in 2003. After emerging from bankruptcy a year later, the Group was renamed Groupe Les Ailes de la Mode. The company was sold to Fairweather INC Group in 2005, which proceeded to further run the company into the ground.
The 66,400 square foot Mail Champlain store in Brossard was Les Ailes’ very first location, and it opened in 1993. Its in-store piano player became a common feature when it began opening other stores. Les Ailes’ 63,600 square foot Place Ste-Foy store opened in 1997.
Ivanhoe Cambridge is being flexible by allowing Les Ailes time to vacate its two store spaces. Ivanhoe will search for replacement tenants in the meantime. It’s unknown if the retail spaces will be subdivided or leased to one tenant. Place Ste-Foy is an upscale mall east of Quebec City that features two upscale anchors: a 102,000 square foot flagship La Maison Simons store, and a 32,950 square foot Holt Renfrew store. Mall Champlain is a mid-scale mall in suburban Montreal that features Hudson’s Bay and Sears as its anchors.
In 2007, Carrefour Laval‘s landlord, Cadillac Fairview, successfully sued to evict Les Ailes from its otherwise prosperous suburban Montreal mall. Cadillac Fairview believed that Les Ailes’ refocussed downscale strategy made it an essentially different store than when it opened.
After these closures (including the Montreal flagship), Les Ailes de la Mode will only have two stores in the province of Quebec: in Chateauguay (suburban Montreal) and in Drummondville.
Nordstrom has delayed opening Nordstrom Rack stores in Canada until 2017. Target’s struggles in Canada are partly to blame. Sources relayed this information to us in early March, and it’s now confirmed by the Globe & Mail via an interview with a Nordstrom spokesperson.
Nordstrom Rack managed to secure several Canadian locations, and we expected its first stores to open in 2015. We delayed reporting on these locations, as some landlords were negotiating related leases. Nordstrom recently walked away from its Nordstrom Rack deals and it now expects to open its first Canadian Nordstrom Rack stores in 2017.
Target‘s struggles in Canada are partly to blame. “We want to ensure we understand how to best serve Canadians,” said Nordstrom spokesperson, Brooke White, in an interview with the Globe & Mail. Target lost about US$941 million last year and the company continues to experience supply chain issues, as well as negative perceptions by some Canadians. Nordstrom Rack wants to ensure that its distribution and replenishing systems are optimal before its Canadian debut.
“There are enough differences for us in our distribution and systems that virtually everything that we do in the States we have to alter somehow for Canada, and we had underestimated that,” said Ms. White to the Globe & Mail.
Nordstrom Rack stores are very productive. Sales per square foot at Nordstrom Rack are estimated to be US$553 per square foot, while Nordstrom’s full-line department stores earn about US$372. We credit the Globe & Mail for providing these numbers.
Nordstrom Rack stores are typically in the 30,000-50,000 square foot range. The company anticipates opening 15-20 Nordstrom Rack stores in Canada.
Nordstrom Rack’s delay may be a gain for Off 5th by Saks Fifth Avenue. Saks plans on opening up to 25 Off 5th outlets in Canada over the next few years, some as early as next year. Saks has one advantage over Nordstrom: real estate. Sources tell us that Saks could open Off 5th stores in current Hudson’s Bay Company real estate, including rebranding some of its Home Outfitters locations as Off 5th outlets.
Target will open a 145,000 square foot store in Downtown Toronto. It’s expected to open in October of 2016. It will be a full-sized Target store, as opposed to the smaller ‘City Target’ locations that have recently opened in the urban cores of cities such as Chicago, Los Angeles and Seattle.
The store will be located in a 200,000 square foot retail space at the base of Harbour Plaza‘s One York Street, a large multi-use project that will eventually feature a 35 story office tower as well as two 60+ story residential towers. Harbour Plaza will connect to the neighbouring Air Canada Centre as well as Union Station, via the city’s PATH system.
The area surrounding the new Target store has seen an explosion of new condominium units. By the time Target opens in 2016, it’s expected that there will be about 15,000 condo units within a one mile radius.
Target CEO Tony Fisher said: “It will be one of our largest stores in the entire country,” noting that the new store will be easily accessible from the Financial District.
“Because of its location, the limited availability for new retail and minimal existing competition, and significant market growth, this development offers a very rare and strategic opportunity for Target,” according to Target.
Sources tell us that Japanese fast-fashion retailer Uniqlo will open in Canada, and that it will arrive via Nordstrom. We cannot confirm this information, though we have been contacted by sources from across Canada (as well as one in the United States) notifying us of Uniqlo and Nordstrom’s potential business relationship. If these sources are correct, we could see Uniqlo open stores in Canada within the next two years.
One source informed us that Nordstrom has “purchased the rights” to open Uniqlo stores in Canada, not unlike Hudson’s Bay‘s licensed operation of Canadian TopShop/TopMan stores. Our source would not confirm if Uniqlo would open locations within individual Nordstrom stores or if Nordstrom would open free-standing Uniqlo stores.
Nordstrom will open its first Canadian location at Calgary’s Chinook Centre on September 19th, 2014. Its second Canadian store will open at Ottawa’s Rideau Centre in the spring of 2015. Its third location, the largest in Canada, will open in the fall of 2015 at Vancouver’s Pacific Centre. Following these will be three Nordstrom stores in Toronto: two in the fall of 2016 (at Toronto Eaton Centre and at Yorkdale Shopping Centre) and one in the spring of 2017 at Sherway Gardens. At least two more Canadian Nordstrom locations are expected to follow.
Again, we must make it clear that this is speculation and that none of our sources will go on record to confirm Uniqlo arriving in Canada via Nordstrom. We are nevertheless publishing this information, as all of these unrelated sources have essentially relayed the same message. If you can provide any further information on this topic (or if you have any retail-related tips in general), please email us here.
Toronto’s Yorkdale Shopping Centre will soon feature one of the most advanced security surveillance systems in Canada. It will cost approximately $3.4-million to implement.
The new surveillance cameras, some of which are capable of providing up to 29 megapixel images, will allow security to zoom in on incidents and the individuals involved to capture images in remarkable detail. In addition, licence plate recognition technology now exists at every parking lot entry point which Toronto Police Services has indicated will prove extremely useful in police investigations.
The new security installation at Yorkdale Shopping Centre features three key innovations:
Complete 360-degree coverage delivering almost 100 per cent surveillance coverage of public spaces
Exceptionally high resolution image capture that allows magnification in remarkable detail; up until now, surveillance images didn’t always provide sufficient detail to assist police investigations
A surveillance room staffed by trained security officers monitoring live feeds 24/7 from all surveillance cameras
“Shopper safety is our number one priority and this security installation will make Yorkdale a very undesirable place for criminal activity,” said Anthony Casalanguida, Oxford Properties’ Director of Retail. “We now have the one of the most technologically advanced surveillance coverage systems available to help deter crime, assist police investigations, and help people feel safe.”
“Yorkdale has always had excellent security and surveillance,” said Superintendent Selwyn Fernandes of Toronto Police Services 32 Division.“Yorkdale is raising the bar in private security and the kind of detail its security team can now deliver will be a real deterrent to criminal activity and, when needed, will be an asset to police investigations. We applaud the management and security team for making this investment.”
