“Lightspeed’s transformation continued to deliver results this quarter with both Customer Locations and GTV growing at an accelerated pace,” said Dax Dasilva, Founder and CEO in a news release. “Our consistent delivery of new, highly innovative features such as Lightspeed AI, Marketplace within NuORDER by Lightspeed and Lightspeed Tempo, along with disciplined go-to-market execution, is driving momentum across our growth engines.”
Dax Dasilva
Asha Bakshani
“This quarter again demonstrates disciplined execution against the framework we laid out at Capital Markets Day,” said Asha Bakshani, CFO. “We delivered strong results, continued to improve our already healthy balance sheet, and expanded Adjusted EBITDA while investing behind our growth engines. This is exactly how we intend to execute our transformation – with focus, predictability, and profitability.”
Third Quarter Financial Highlights
Total revenue of $312.3 million, an increase of 11% year-over-year.
Transaction-based revenue of $209.4 million, an increase of 15% year-over-year.
Subscription revenue of $93.0 million, an increase of 6% year-over-year.
Net loss of ($33.6) million, or ($0.24) per share, as compared to a net loss of ($26.6) million, or ($0.17) per share. After adjusting for certain items, such as share-based compensation, the Company delivered Adjusted Income of $20.2 million, or $0.15 per share, as compared to Adjusted Income of $18.5 million, or $0.12 per share.
Adjusted EBITDA of $20.2 million up from Adjusted EBITDA of $16.6 million.
Cash flows from operating activities of $28.9 million as compared to cash flows from operating activities of $2.7 million, and Adjusted Free Cash Flow of $14.9 million as compared to Adjusted Free Cash Flow used of ($0.5) million.
As at December 31, 2025, Lightspeed had $479.0 million in cash and cash equivalents.
“Our third‑quarter results underscore the strength of our global brand and top‑line engine, with broad‑based revenue growth and continued momentum across key regions and channels,” said Dani Reiss, Chairman and CEO of Canada Goose. “Our peak selling period reflected sharper execution — higher quality traffic driven by integrated global campaigns, strong consumer response to our expanded year‑round assortment, and robust performance across both retail and e-commerce.”
Dani Reiss
“Margins this quarter reflected deliberate choices we made to expand product relevance and fuel brand momentum. Our focus now is converting this demand into stronger profitability. In recent years we have driven real overhead efficiency in our business, and now we are bringing the same focus to channel level SG&A discipline and marketing efficiency. These actions will position us to expand margins in the years ahead.”
Third Quarter Fiscal 2026 Business Highlights
The retailer said its third quarter results reflect traction from its focused investment program:
Launched Fall/Winter 2025 New Heirlooms and Snow Goose campaigns, which strengthened brand momentum, increased repeat customer purchases, and elevated cultural relevance. The campaigns balanced fresh creative expression, showcasing its durable outerwear assortment crafted with enduring materials, reflecting its heritage of quality and craftsmanship.
Strengthened its retail presence in key markets with four new store openings, bringing its total permanent store count to 81. It showcased a new store design concept in its relocated Milan store, strategically positioned among luxury adjacencies driving brand elevation.
Expanded its year-round assortment which is broadening customer appeal, with newness driving strong engagement and accelerating unit sales growth across down-filled outerwear and non down-filled outerwear categories.
Third Quarter Financial Highlights
Total revenue increased 14.2% to $694.5 million, up 13.2% on a constant currency basis .
DTC revenue increased 14.1% to $591.0 million, or up 13.2% on a constant currency basis led by strong retail and e-commerce performance in Asia Pacific and North America. DTC comparable sales increased 6.3%.
Wholesale revenue increased 16.6% to $88.3 million, or 13.9% on a constant currency basisprimarily due to timing of shipments to partners, with delayed deliveries from the prior quarter fulfilled in the current quarter.
Other revenue increased 5.6% to $15.2 million, or 10.4% on a constant currency basis due to higher employee sales.
Gross profit increased 13.7% to $513.8 million due to higher revenue. Gross margin for the quarter was 74.0% compared to 74.4% in the third quarter of fiscal 2025, primarily due to product mix.
Selling, general and administrative (SG&A) expenses were $313.6 million, compared to $247.7 million in the prior year period. The increase in SG&A was primarily driven by a one-time bad-debt provision related to a U.S. wholesale partner, run-rate costs associated with the expansion and operation of the global retail network, higher marketing investments, and a foreign exchange gain in fiscal 2025 that did not recur in fiscal 2026.
Operating Income was $200.2 million, compared to operating income of $204.3 million in the prior year period.
Net income attributable to shareholders was $134.8 million, or $1.36 per diluted share, compared with a net income attributable to shareholders of $139.7 million, or $1.42 per diluted share in the prior year period.
Adjusted EBIT was $203.7 million, compared to $205.2 million in the prior year period. Adjusted EBIT margin was 29.3%, compared to 33.8% in the prior year period.
Adjusted net income attributable to shareholders was $142.3 million, or $1.43 per diluted share, compared with an adjusted net income attributed to shareholders of $148.3 million, or $1.51 per diluted share in the prior year period.
The appointment of Bourke is effective today and he will oversee the brand’s North American business with responsibility for driving brand momentum, strengthening retail and wholesale execution, and deepening consumer connections across the region. He will partner closely with the global leadership team to advance the company’s operating imperatives, with a focus on brand heat, strategic channel expansion, and operating with pace and accountability.
Patrick Bourke
“Patrick is an action‑oriented, high‑energy leader with a strong track record of delivering results,” said Reiss. “He brings deep strategic expertise, commercial acumen, operational rigor, and a collaborative leadership style. Patrick has helped shape and accelerate important revenue growth and profit margin expansion initiatives for our company, and I’m confident he will continue to build momentum across North America.”
Bourke brings a proven commercial track record, having led Investor Relations, Strategy, Business Development, Indirect Procurement and Go-To-Market over his nearly 10 years at Canada Goose. He has strengthened the company’s partner ecosystem, advanced key strategic relationships, and supported the company’s global expansion. He is also known as a disciplined cost‑management leader, driving meaningful savings through supplier optimization and spend governance. In parallel, he has worked cross‑functionally to accelerate go‑to‑market timelines and simplify processes to better support our evolving product strategy, explained the company.
“Canada Goose is an exceptional brand with a strong foundation and an incredibly talented team,” said Bourke. “Stepping into this role, my focus is on working closely across the region to drive meaningful growth and ensure we’re delivering the kind of experiences our consumers expect from us — sharp, agile, and truly best‑in‑class.”
Premium womenswear brand Marc Cain has announced a leadership realignment in North America, naming new executives in both the United States and Canada as the company positions the region as a key growth market.
As part of the changes, Jessica R’Bibo has been appointed President of Marc Cain Canada Inc., effective January 2026. Her appointment follows the earlier naming of Joy Corson as Vice President of Marc Cain USA Inc. in November 2025.
The moves are part of a broader organizational shift that restructures leadership responsibilities across North America, replacing a previous structure that saw one managing director overseeing both markets.
Market-Specific Structure for North America
According to the company, the leadership changes are intended to inject new momentum into the region by introducing market-focused executives in each country. Both new leaders will concentrate on brand development, retail expansion, and wholesale partnerships within their respective territories.
Marc Cain said the appointments reflect a more targeted approach to North America, which it considers a strategic growth region.
The company also noted that buyers and partners will continue to access upcoming collections through its expanded showroom in New York and its showroom in Montreal.
Seven Canadian Stores Across Major Markets
Marc Cain maintains a selective physical retail presence in Canada, currently operating seven corporate boutiques in major regional shopping centres. Locations include CF Chinook Centre in Calgary, West Edmonton Mall, Square One in Mississauga, CF Rideau Centre in Ottawa, CF Carrefour Laval, Place Ste-Foy in Quebec City, and Royalmount in Montreal.
In addition to its standalone stores, the brand is sold through several dozen multi-brand specialty retailers across the country, providing a broader wholesale footprint in key urban markets.
Canadian Market Built on Premium European Positioning
Marc Cain is a German premium womenswear brand with a selective presence in Canada, combining European knitwear expertise and bold prints with a boutique and wholesale footprint nationwide.
Founded in 1973 by Helmut Schlotterer and headquartered in Bodelshausen, Germany, the company positions itself in the premium to luxury segment of women’s fashion. It focuses on high-quality materials, advanced knitting technology, and in-house print and design capabilities. The brand’s aesthetic is described as feminine, modern and sophisticated, blending expressive prints, colour, and knitwear with tailored pieces.
The core Marc Cain Collections line offers ready-to-wear that mixes contemporary silhouettes with distinctive prints and knitwear. Product categories typically include dresses, tailored jackets, trousers, outerwear, and coordinated outfits, often sold as complete looks.
Canadian Entry and E-Commerce Expansion
Marc Cain entered the Canadian market with corporate boutiques in major enclosed shopping centres, beginning in October 2015 with openings at CF Carrefour Laval near Montreal, Place Ste-Foy in Quebec City, and CF Chinook Centre in Calgary. The brand expanded into the Greater Toronto Area in 2016 and continued to add locations through 2017 before later rationalizing its store network.
In 2022, Marc Cain launched a dedicated Canadian e-commerce site featuring Canadian pricing, bilingual content, and local fulfillment from a domestic distribution centre. The online channel now complements the brand’s physical boutiques and wholesale network across the country.
Global Premium Brand with European Roots
Headquartered in Bodelshausen, Germany, Marc Cain is a globally operating premium womenswear brand that maintains a share of its production domestically. The company is led by Chairman Helmut Schlotterer and remains owner-operated, a distinction that is increasingly rare among fashion companies.
The brand is known for distinctive prints, vibrant colours, and its “Knitted in Germany” craftsmanship, supported by a technologically advanced knitting facility in Europe.
Marc Cain operates a global retail network of more than 120 branded stores, along with over 1,000 multi-brand points of sale across dozens of countries, reflecting a tightly controlled international distribution strategy.
Longo Brothers Fruit Markets began in 1956 as a small neighbourhood fruit market and has grown into a trusted Ontario grocery brand with 43 stores across the province, all firmly rooted in community and guided by the same values that shaped its very first store.
Founded by brothers Tommy, Joe and Gus Longo, the business was built 70 years ago on a simple promise: We only serve our Guests what we would serve to our own families. That Family Standards philosophy continues to guide everything Longo’s does today, from sourcing fresh produce and partnering with Ontario farmers to delivering a remarkable Guest experience and service in every store.
“Seventy years is an incredible milestone to achieve, and I feel very proud,” said Anthony Longo, Executive Chair of Longo’s. “It’s also an incredible achievement that our purpose has been steadfast: we are, and will always be, a values-driven business built around our Guests, Team Members, partners, and community, just as my father and uncles intended.”
Anthony Longo
Recently, Longo’s was named the #1 Grocer in Ontario in the 2026 WOW Study by Léger, based on the opinions of thousands of recent visitors to grocery stores across Ontario.
Deb Craven
“Longo’s has grown thoughtfully over time, always with an eye toward the future and a respect for where we came from,” said Deb Craven, President of Longo’s. “As we look ahead, our focus is on continued expansion and innovation without compromising our values. Growth means nothing unless it’s grounded in trust, quality, and the strong relationships we’ve built with our Guests, Team members, and partners.”
A Year of Celebration
To mark the milestone, Longo’s is celebrating the people who have been at the heart of its success. Throughout its anniversary year, Longo’s will roll out special celebrations, including official anniversary events, new products, great deals, in-store activations, and special opportunities for its loyal Thank You Rewards members.
Longo’s is also kicking off these anniversary festivities with a contest. To celebrate the 2026 Olympic & Paralympic Games in Italy and as Official Grocer of Team Canada, Longo’s is giving back to its members. Thank You Rewards members will have the chance to win $25,000 in cash to fund a dream trip to Italy, turning once-in-a-lifetime moments into unforgettable memories. Registered Thank You Rewards members can earn one entry into the grand prize draw with every $150 spent (in a single transaction) between January 22 and February 22. Members will also have the opportunity to win 70,000 Rewards points through a daily draw throughout the month, giving them even more chances to be rewarded during this exciting event!
“When we opened our first store in 1956, we never imagined what Longo’s would become,” said Gus Longo, Co-Founder. “To see the business 70 years later, with more than 43 stores and over 26 family members still involved, it is incredibly humbling. What matters most is that we’ve stayed true to who we are: a family business serving families.”
Anthony Longo, who turns 65 this year, has grown up with the brand and worked at various jobs throughout from sweeping the floors to carrying out groceries for customers.
The business began with the vision of his father and two uncles.
“My dad was the oldest. That was 1956, so he was 22 when he started, on Yonge and Castlefield in the middle of the city of Toronto. Just a little store. I think it was about 2,000 square feet, which is smaller than most homes today in this area. And that’s where they started. It was just a produce market. Then they continued to grow from there. They were there five years, and then they went to Woodbine and Mortimer, which is considered the Beaches today. They opened a store there, and that’s where they added meat and grocery in addition to produce,” explained Longo.
“Back then, and since 1956, they delivered groceries to people’s homes. They took orders manually. My aunts and my mom would write down the orders, assemble them, and then my Uncle Joe would usually deliver the orders. So an early version of what we see today in e-commerce.”
Right after college, Longo joined the grocery store full time in 1982. From a job perspective, this is all he knew. “It was injected in my blood,” he said.
So what has been the key to the brand’s longevity?
“I think for us it’s been that we’ve been a values-based company from the beginning. My dad—they didn’t put it this way when he was 22 years old—but they lived by the model that their grandfather, their father taught them, which is honesty, trustworthiness, mutual respect. A few years ago we asked, “What is our secret sauce?” One of the words that came out was voglia. In Italian, voglia means desire—the wanting to continue to move forward, having that gut drive to keep moving and keep driving forward,” said Longo.
“I think the foundation is really around those values. From a business standpoint, my dad would always talk about freshness, quality, and service. Those were the three mantras. Having those three in the produce business and applying them across the business was really important.
“One of the things we later put words around was: don’t try to sell your customers what you wouldn’t take home yourself. That really strikes home for people in our stores during orientation. If the produce is bruised and you wouldn’t buy it, why would you keep it on the stand? Take it off, reduce it, or do whatever you have to do with it. Those are the kinds of things that created a very strong foundation for us.
“In terms of how that survives 70 years, you have to continue to evolve. They started as a little produce market, then added grocery, then meat, then a bakery. Prepared foods came into vogue in the ’80s, so we added prepared foods, salad bars, things like that. It’s really about evolving to where the consumer is going, not necessarily where they’ve been.
“That’s why it’s so important for us to be involved with different groups in the U.S., to travel through Europe. We just want to learn—how do other people do it, and what little things can we take that our customers might like? We try them out, and many times they work.”
Longo said the company is planning to open in Welland this year, which will be its first store in the Niagara region. That’s scheduled for May or June. All the company’s stores are located in southern Ontario. Have there ever been plans to go further out geographically?
“Once in a while it comes up, but the reality is there’s still so much opportunity in this marketplace. Toronto still has more opportunities. The Niagara region is fast-growing, and this will be our first store there. Hamilton—we only have one store just outside the city. Halton region, Durham region—there’s still a lot of opportunity here. We don’t need to go too far afield to continue to build the business,” added Longo.
“It gave us more access to resources. For example, private label—things where we didn’t have enough volume before. Empire has the volume, so they helped us connect with suppliers who could run our brand on smaller runs. For value-priced offerings, we were able to use their Compliments brand, which is great quality. We don’t carry a lot of it, but probably around a hundred lines,” said Longo.
“It’s been helpful in rounding out the shop for consumers. Empire has really been terrific in that they’ve left us to run the business on our own. We’ve continued to build the brand and the culture. We launched our Longo’s Italian line of products, which is phenomenal, and they’re carrying some of those products in their stores now. So there’s been some cross-pollination on both sides.”
Longo has seen many changes in the grocery sector over the years.
“Consumers are much more worldly now in terms of flavors and products from all over the world—different cuisines introduced over the 70 years we’ve been doing this. Technology has played a huge role. We talked earlier about delivering groceries using pencil and paper. Now people order from their phones while they’re on the subway, and their groceries come from Voilà, Uber, or Instacart,” he explained.
“Technology has changed the way consumers shop and the way retailers operate. Scanning—we’ve been scanning since the late ’80s with UPC codes. When we started in 1956, there were no UPC codes. We used ink stamps on each can. That’s how it was done back then. Lots of changes in the industry, for sure.”
Longo said the sector will continue to evolve.
“A typical store has 24,000 to 26,000 SKUs. Continuing to work through the supply chain to ensure safe, high-quality food at a price consumers see value in is really important. That challenge hasn’t changed,” he said.
“What people look for from products around the world, and the rise of buying local and supporting local entrepreneurs, is really important to us. We have hundreds of items from small manufacturers in our stores, and we want to continue supporting them when they have good quality products at reasonable value propositions.”
Canadian entrepreneur Marc Lafleur went from a broke kid in Cornwall, Ontario, who couldn’t afford a car and had holes in his shoes, to pitching truLOCAL on Dragons’ Den in 2018, selling the company in 2021 for $16.8M, and now returning to the show as a guest Dragon.
Today, Lafleur runs DB8 Labs, an AI venture studio that builds and operates niche consumer products, and he’s actively scouting Canadian AI startups.
He is a University of Waterloo honours graduate who went on to find his niche in entrepreneurship. After co-founding two start-ups in school, he co-founded truLOCAL and led the business to a successful acquisition.
During his time as CEO of truLOCAL he helped build the team to 60+ employees and expanded across Canada and the US, landing the cover story of The Globe and Mail’s Report on Business for being Canada’s 14th Top Growing Company along the way. Over five years, truLOCAL accumulated a series of wins including a successful pitch on CBC’s Dragons’ Den in 2018 which led to a partnership with Michele Romanow. truLOCAL grew to become Canada’s largest e-commerce based protein business by market size with annual revenues exceeding $20M.
Marc Lafleur
A founder and mentor at heart
Lafleur is a founder at heart and has taken a particular interest in mentoring up-and-coming founders. A series of successful angel investments helped him make a name for himself as a value-added investor among Canadian start-ups.
He shares his message through public speaking for companies like Lululemon and Google and he has taken a special interest in speaking to today’s youth.
“If my story can inspire even one kid to take a risk and go after something someone told them they couldn’t achieve, then I’ve done what I’m here to do.
“I think I’m fortunate. I guess I found my entrepreneurial success after two failed startups, and I was just one of those kids that wasn’t going to fit the mold very well. Whether you call it a problem with authority or just asking way too many questions all the time, I always thought I had a better answer.
“I pretty much struggled a lot academically, and then when I did find entrepreneurship, probably around the age of 22, I was just stubborn. I didn’t know any better, and I think naivety is actually a gift.”
truLOCAL established at perhaps not the best time
He founded truLOCAL, his third startup in 2015, which he said was not the best time to start a business. And this was a very difficult business.
“If you imagine, we had almost the most difficult parts of every single industry you could imagine. We built our own website, so it wasn’t like we were using Shopify or anything like that. We had a full engineering team. We said we weren’t a tech company, but we were tech-enabled,” he said.
“So we had five software engineers, but we also dealt with last-mile logistics. We delivered stuff to people’s homes, so that in itself is a huge cost and a huge logistics nightmare. We had warehousing management. We had the scale of typical retail when it comes to customer service. We dealt with food. We dealt with frozen food.
“So even though trying to sell meat online through a subscription box was a fairly difficult model to do back in the day, it still was the easiest time ever that you could start a company. And I think that now, when you look at 2026, it’s gotten even easier.”
Marc Lafleur
The thing he found very interesting, and the biggest lesson he learned along the way, is that as long as you’re willing to fail over and over and over again, you’re eventually going to find success. It’s inevitable.
“Because as long as you’re the type of individual who can take even a small percentage of your failures and learn from it, eventually after five or six cycles of failure, things are going to start to fall into place,” explained Lafleur.
“So the only real variable that comes into play is how many times can you take a chance before you actually have to call it quits. And that’s different for everybody. But I think people, especially in their early twenties or younger nowadays, have such a huge tolerance for risk. You’re never going to regret taking that chance,” he said.
“I’m a huge believer that everybody should try entrepreneurship at least once in their life. It should be like mandatory service. Because even if you fail, you’re going to become a far greater, more competent human being just by going through the motions of trying to start a company.
“If you think signing a mortgage is intimidating, it’s not if you’ve done entrepreneurship. If you think planning a wedding is complicated, it’s not if you’ve done entrepreneurship. The biggest takeaway is just getting after it, realizing that it is much easier than people think. That’s not to say that you’re going to find success easily, but if you look historically at the rise of entrepreneurship over the past hundred years, this is the best chance of success that you have.”
Investment focuses on consumer AI
As a guest investor on the CBC Dragon’s Den show Lafleur said DB8 Labs is focused on consumer AI.
“But as a lot of investors will tell you, especially when it comes to angel investing, it’s a lot less about the product or the business and a lot more about the founder,” related Lafleur.
“If you look at truLOCAL as an example, on paper, it is a horrible idea. If you were talking to an investor, and we did, and you say, “Hey, we want to take food in this hyper-competitive space and ship it in the mail to people,” it doesn’t make a lot of sense. It was essentially bulldog tenacity, the naivety of not thinking that we could fail, and then putting an amazing team together that found the success.
“So I’m looking for people more than anything. I really do think that we need more entrepreneurs, especially in Canada. The entire world is pivoting into entrepreneurship. The entire world is pivoting into building your own, whether it’s a micro business, the solo institution, or anything. Entrepreneurship is no longer going to be this fringe thing for risk-takers. It should become more of a norm.
“So I think being a guest investor and a guest dragon on Dragons’ Den does two things. Number one, it takes my story and puts it in the forefront once again to show how anybody can do this. I didn’t have a silver spoon in my mouth. I just wasn’t willing to give up. And I think that should inspire a whole new cohort of entrepreneurs to take a chance. And number two, of course, I’m looking to invest in the best founders in Canada.
“I always say, real recognizes real. For me, I’m looking for individuals who remind me of myself. People who are going to tilt the universe in their favor, who will not take no for an answer, who are so stubborn or so convicted in what they want to do that it doesn’t matter what we say.
“You can sometimes tell whether a founder is going to be successful with or without you. Those are the people I want to get behind. The ones who say, “I don’t care if you tell me no today. I’m going to make it work down the line.”
“It’s easy to sniff that out once you’ve been through it. That’s what I’m looking for. A good idea is a plus, but it’s definitely not the only thing I look at.”
Lafleur said Canada needs more people backing Canadian founders. Compared to the U.S., the investment market is down. The speed at which you try to raise capital is down. We’re losing so many entrepreneurs to the U.S. because the U.S. makes decisions fast. The capital flows easily. There’s not as much friction.
“If I’m going to have built businesses and I’m going to be mentoring people, I want to support that. So I try to take more of an American approach when it comes to finding founders and doing investments,” said Lafleur.
Marc Lafleur
“I don’t want to waste founders’ time. That’s the biggest thing I’ve always said. I might be an investor now, but I’m still founder-first. I’m not an institutional investor. I’m not a Bay Street guy. I don’t push pencils or work on spreadsheets. I’m in the trenches doing that. The most disrespectful and frustrating part of raising money is going through six weeks to hear a no. So for me, I want to come in quick, decide if it’s a fit or not, and make a decision.
“Canada has to change its tune when it comes to entrepreneurship. We need to support entrepreneurship. We need to stop vilifying individuals for wanting to build a better life for themselves. It’s okay to be financially motivated. I see this all the time when I talk to high school kids. They’ll come up to me afterward and say it’s hard to tell their friends or parents that they want to make money, that they want to win, that they want business, nice cars, nice houses, and freedom. They feel like they can’t say that anymore.
“If you can’t say that, where’s the motivation to win in entrepreneurship? Right now, we need a lot more of that in Canada, and I’m hoping that by being more vocal and active, I can help find that next cohort of entrepreneurs.”
Entrepreneurs come in different shapes and sizes
Lafleur said the mix of personality traits that come together to make a good entrepreneur is pretty vast. There are a lot of different entrepreneurs in different shapes and sizes.
“Resilience, being crafty, being a professional problem solver, and absolute conviction that business succeeds over a long period of time all matter. What is that chip on your shoulder that makes you wake up in years three, four, and five when all the walls around you are on fire? You need something deeper to push through that,” he noted.
“I’m not a rocket scientist. I’m not the next Elon Musk. I don’t have that IQ factor. I was just stubborn and tenacious. I wasn’t inventing anything new. I was improving on an existing design, and a lot of founders do that. There’s a lot of money and a lot of great businesses to be made that way.
“But entrepreneurship isn’t for everybody. If you need direction, security, or if you blame others for everything that happens in your life instead of looking internally and asking what you can do to change it, it’s not going to work.
“It might work for a week, a month, a quarter, or even a year, but you won’t push through years two, three, and four when things get really hard. Those are some of the key founder personality traits.”
The Canadian Franchise Association (CFA) is kicking off 2026 with an inside look at the trends reshaping two powerhouse sectors of franchising—foodservice and retail.
With the franchise industry projected to be worth $133.3 billion by 2026, these categories are entering a new era marked by accelerating innovation and fast-changing consumer expectations, said the Association.
Full-Service Restaurants: Restaurant brands continue to attract franchisees with scalable operations, steady revenue, and innovative menu offerings. As more consumers prioritize in-person experiences, dining out in full-service restaurants continues to be popular.
Culturally Rooted Brands: Concepts rooted in a founder’s personal, regional, or cultural background are gaining momentum, offering authenticity that resonates with customers.
Sector-Specific Trends to Watch
Fusion Menus: Combining different cuisines allows brands to stand out while appealing to a wider audience. Fusion menu items are growing in popularity, especially with younger demographics who are drawn to unique menu offerings.
AI & Smart Operations: Franchise systems are increasingly using AI to streamline operations, from optimizing ordering and inventory to analyzing consumer feedback. These tools help franchisees run more efficiently, make data-driven decisions, and focus on growth.
Retail Industry Trends:
Popular Categories
Pet Care: Franchises offering pet products and services continue to see strong demand, as Canadians increasingly prioritize the health and well-being of their pets. Rising pet ownership, a willingness to spend on premium products and services, and the humanization of pets are driving growth in this sector, making it a resilient and high-potential category for franchisees.
Health & Fitness: Wellness focused franchises remain popular, attracting consumers looking for holistic wellness, and lifestyle experiences. Growing awareness of health and mental well-being, combined with increased disposable income for lifestyle and self-care services, is fueling strong demand in this sector. Wellness brands are harnessing technology to deliver products and services, from infrared saunas to video fitness classes to IV drips.
Sector-Specific Trends to Watch
Eco-Friendly Practices: Sustainability is becoming a major factor in where people spend their money. Consumers, particularly younger generations, are increasingly drawn to sustainable and environmentally conscious brands, creating opportunities for franchisees to align with these values.
Experience-Driven Retail: Retail concepts are focusing on interactive and memorable experiences to build loyalty and stand out in competitive markets.
Tech-Enabled Shopping: From e-commerce platforms and mobile apps to digital loyalty programs and AI-driven insights, technology is helping franchisees improve efficiency, optimize operations, and enhance customer experience.
Looking ahead, foodservice and retail remain some of the most attractive sectors for franchise investment, offering strong consumer demand, opportunities for innovation, and room to grow, says the Association.
“It’s changing, evolving, innovating each and every day, right from frontline customer level all the way to the head office level. And I think the one thing people sometimes forget is that franchising is very integrated into the Canadian lifestyle,” she said.
“They say the average Canadian deals with a franchise location three to five times a day. When you think about it, where did I get my coffee in the morning? Did I drop off some dry cleaning? Did I drop my child at daycare? Where did I get lunch? Did I get my dog groomed, et cetera? Did I buy dinner to take home?”
McNeil said some of the trends remain very constant. Retail and restaurants are still very strong. And customers are looking for an experience-driven opportunity.
“If I’m a consumer and I’m going to a restaurant, I’m going to a restaurant owned and operated by a local small business owner who lives, works, and contributes to that community. But they want that social connection. They want a memorable experience if it’s a casual dining experience,” added McNeil.
“And we’re seeing authenticity as a key differentiator as a trend that’s coming forward. So the restaurant itself is a brand, but it’s associated with the person who lives in the community, that franchisee and maybe what the franchisee supports in that community, or how their kids play hockey with the customers’ children, et cetera. They’re supporting the food bank, their charity of choice. But the customer experience is also being tied back now to the founders. What’s the founder’s history, in some cases? So we’re seeing that rise as well.”
McNeil said consumers are looking for a different type of experience.
Franchisees are looking for concepts that have strong operational performance, a compelling customer experience they can deliver on.
“But customers are also looking for convenience. They want a location that’s not too far from their home or their kids’ schools, so they can drop off whatever it is or pick up lunch on their way to and from their day-to-day lives. Some of that remains very static. Convenience has always been important, but it’s becoming more so. And we’re seeing new franchisees gravitate toward strong brands or brands they think are unique, with unique touchpoints to the consumer.”
People should do a self-assessment if thinking of becoming a franchise owner
McNeil said not everyone is cut out to be a franchise owner.
“You have to do a self-assessment and decide: do I want to be in business for myself but not by myself? If so, franchising is a great route because you have the support of the franchisor and all the other franchisees who are living and breathing the same brand. You’re experiencing many of the same challenges, and you can share best practices, leverage learnings, or learn how to drive same-store sales or improve customer experience. But if you’re not someone who is good at following systems and routines, or learning from others, if you’re a self-starter who wants to make it on your own, franchising might not be the right path,” she said.
Photo: RDNE Stock project
“But because there are so many different types of franchises out there, new and emerging franchises can be an opportunity for those with a high entrepreneurial drive who want to be on the ground floor with the founder, testing products, making a difference, providing feedback as they grow from five locations to 10, to 15, to 20.
“That entrepreneurial, pioneering spirit can really thrive there. That person might not be a great fit for a brand that already has 1,100 units, where systems, routines, and processes are very established. To me, it’s really about self-assessment and self-awareness and where you fit best among the opportunities available through franchising. There is a franchise for everyone.”
McNeil said she encourages everyone to do their due diligence and research.
“That self-assessment piece is really important to find the right fit. Franchising is about being in business for yourself but not by yourself. But I would caution people to watch for fraud. Fraud exists everywhere. People or companies claiming to be franchisors. Please do your due diligence to ensure they are a franchisor. Just because a company has a website doesn’t mean they’re a franchisor.”
One in five Canadian consumers (20%) say they’ve reduced or stopped buying holiday gifts – including Valentine’s Day gifts – over the past 12 months to save money, according to a new survey from ecommerce marketing company Omnisend.
Yet despite pulling back on gifting, many shoppers report spending more online overall, said the company.
“What’s changing isn’t the desire to celebrate – it’s how shoppers justify the purchase,” said Marty Bauer, ecommerce expert at Omnisend. “Consumers are still spending online, but higher delivery fees and everyday inflation are forcing trade-offs. Brands that win Valentine’s Day in 2026 will be the ones that make gifting feel easy: clear shipping cutoffs, bundles under $50, and personalized reminders timed to delivery windows.”
While 20% of consumers say they’ve cut back on online holiday gifting, many shoppers report their overall online spending is still increasing, said Omnisend.
Consumers spending more online
In fact, Omnisend said almost half of consumers surveyed are spending more online per month than a year ago, with:
12% spending $100–$199 more per month
19% spending $50–$99 more per month
3% spending $500 or more per month
“This trend highlights an important nuance for retailers: shoppers may be spending more overall, but that doesn’t mean they’re buying more items – making value, personalization, and timing even more critical for Valentine’s Day campaigns,” said Bauer.
Omnisend said retailers can capture Valentine’s demand by leaning into bundles under $50, guaranteed delivery messaging, and early reminders through email and SMS that help shoppers avoid rush shipping fees.
Marty Bauer
Convenience, value and personalization are key
Brands should also highlight free shipping thresholds and promote “ready-to-gift” products that reduce decision fatigue.
“As shoppers become more selective, brands that offer convenience, value, and personalization will be best positioned to capture demand,” added Bauer.
He said inflation and household economics are changing consumer behaviour.
“Persistent inflation continues to cut into household budgets, causing consumers to reevaluate their gifting philosophies. In some cases, shoppers may reduce the amount they spend per gift, while others may forgo gifts for casual acquaintances,” said Bauer.
“At the same time, shoppers are consolidating their purchases from retailers, meaning they are spending more per order but shopping from fewer stores. This helps them save on shipping costs while increasing the average order value.
“Finally, let’s not forget that, with inflation, things simply cost more. While overall spending may increase, it doesn’t necessarily mean consumers are spending recklessly.”
Experiential gifts are a trend today
Bauer said a recent trend is consumers forgoing “unnecessary” gifts in favour of more experiential ones, such as a nice dinner or micro-indulgences like treating oneself to gourmet coffee.
“For holidays like Valentine’s Day, shoppers may pass on the stuffed teddy bear and expensive chocolates and shift their purchases to a nicer date-night experience,” he said.
“Rising delivery fees came up as a pressure point. How much does shipping now influence whether a Valentine’s purchase actually happens — and where are brands getting it wrong?
“This really depends on the items being purchased, but in a silo, I don’t think it’s a major factor in consumers spending less. However, price fatigue has reached consumers, and seeing high shipping costs can cause shoppers to reconsider their intended purchase. With tight budgets, if the perceived value of the product doesn’t outweigh the total cost, some shoppers may decide the juice isn’t worth the squeeze.
“Brands are in a difficult spot because some need to pass on shipping costs in order to remain profitable, but price increases eventually wear on consumers. Where brands often go wrong is not focusing on customer retention. While it costs a lot to acquire customers, too many brands ignore them after a purchase, forcing them to deploy the same tactics to reacquire them. This constant chasing of the tail keeps brands going around and around the customer acquisition wheel.”
Reinforcing value a missed opportunity
Value is important. When consumers feel a gift is thoughtful, matches the perceived value, and will last, shoppers have an easier time justifying the money spent.
“For brands, this means reinforcing value-adds and using social proof in their messaging,” said Bauer.
“Value-adds include shipping and return policies, product quality and attributes, and customer service guarantees. Social proof can be used by showcasing top-rated and back-in-stock products and gifts, customer favorites, and testimonials. These items can overcome obstacles to conversion for shoppers and make them feel confident making a purchase.
Photo: freestocks.org
“Reinforcing value is the primary missed opportunity. As I just mentioned, showcasing value goes a long way. Along this same line, as prices increase, showing comparisons to other “traditional” products can help convince shoppers that purchasing from you is the right move.
“For instance, let’s say you sell a $30 sweater that would look great on your significant other. Instead of only promoting the sweater, compare it to what else $30 might buy you. What would provide better value: a trendy new sweater they could wear out again and again, or a stereotypical heart-shaped box of chocolates and an overpriced greeting card? One has thought behind it. The other hasn’t evolved since your high-school days.”
It’s Super Bowl weekend — one of the biggest days of the year for food, snacks, and shared consumption rituals. And despite today’s anti-American rhetoric, make no mistake: Canadians will be watching, eating, and spending.
While the Super Bowl remains an American sporting event, it has quietly evolved into one of Canada’s most significant “night-in” food occasions. North of the border, the game functions less as a football spectacle and more as a social and culinary event.
According to Vividata, an estimated 8.4 million Canadians are expected to tune in to this year’s matchup between Seattle and New England, making it one of the country’s largest at-home viewing moments of the year. Crucially, Super Bowl audiences extend well beyond core football fans, drawing Canadians who engage primarily for the social experience — and the food.
That shared experience shows up clearly on plates and in grocery carts. Chicken wings remain the undisputed icon of Super Bowl Sunday in Canada. In previous industry forecasts, Canadians were expected to consume as many as 82 million wings on game day alone, highlighting the sheer scale of demand for a single product. Despite that chicken wings are about 7% more expensive than last year, they will remain popular. Supply-managed chicken producers, understandably, welcome the annual spike.
Beyond wings, the Super Bowl reinforces a predictable but economically meaningful snack hierarchy. Salty, shareable staples — tortilla chips, cheese snacks, popcorn, and party mixes — dominate Canadian spreads. Super Bowl viewers are at least 10 per cent more likely than the average Canadian to consume these items on game day, according to Vividata. Chips, in particular, benefit from complementary demand, pairing seamlessly with dips and salsas. Grocery data across North America consistently shows pronounced pre-game surges in tortilla chips, dips, and sauces. Buffalo-flavoured products and spicy profiles remain central as well, reflecting a broader consumer preference for bold, indulgent flavours during communal eating occasions.
Other perennial favourites — pizza, chili, ribs, pigs in a blanket, and guacamole—continue to anchor Super Bowl menus, underscoring Canadians’ preference for easy-to-share, low-friction foods that travel well from kitchen to couch.
For 2026, however, there are a few notable twists. Canadian restaurants are leaning into premium, take-and-share comfort foods ahead of the game, with items such as barbecue ribs, brisket chili, and spicy honey fried chicken appearing on special menus. The trend reflects a willingness to trade up for indulgence on specific occasions, even as consumers remain cost-conscious overall. At the same time, social-media-driven creations — pull-apart breads, loaded snack boards, and football-themed platters — are gaining traction, suggesting that hosts increasingly value visual appeal and novelty alongside taste.
Cost pressures are also shaping behaviour. Potlucks have become increasingly fashionable, not just for their conviviality but for their economics. With food prices still elevated, guests are more willing to contribute trays of snacks, spreading the financial burden of hosting. The result is a more collaborative — and resilient — model of social eating.
Ordering behaviour shifts as well. More than half of Canadian Super Bowl viewers (52.9 per cent) plan to use food-delivery services on game day, well above typical weekend levels. Beer remains a natural companion for many households, with nearly two-thirds (66.2 per cent) of viewers of legal drinking age reporting beer consumption within the past six months, including strong representation from local craft brands.
Taken together, the data make one thing clear: the Super Bowl’s gravitational pull on Canadian food consumption is real. Canadians may not all follow the sport closely, but they reliably adjust their eating, buying, and ordering habits around it. For grocers, restaurants, delivery platforms, and food manufacturers alike, Super Bowl Sunday has become a meaningful seasonal demand shock — one driven less by touchdowns than by tortilla chips, chicken wings, and the enduring economics of eating together.
Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 24 hours.
Tudor at 101 Bloor St. W. in Toronto. Photo: Michael Muraz
Swiss luxury watch brand Tudor is continuing to deepen its presence in Canada through a carefully structured expansion strategy that balances mono-brand boutiques with long-standing multi-brand retail partnerships. According to a Tudor spokesperson, Canada has proven to be a receptive and strategically important market for the brand, offering the scale, sophistication, and luxury retail infrastructure needed to support dedicated boutiques without undermining the broader authorized dealer network.
The most recent milestone in this expansion is the opening of a new Tudor boutique at Royal de Versailles, located at 101 Bloor Street West in Toronto. The boutique opened in December 2025 and represents Tudor’s fourth mono-brand boutique in Canada, with a fifth location scheduled to open in Vancouver in March 2026. Together, these openings are what the spokesperson describes as a deliberate but confident acceleration of Tudor’s Canadian footprint.
Tudor at 101 Bloor St. W. in Toronto. Photo: Michael MurazRoyal de Versailles store at the base of 101 Bloor St. W. in Toronto, February 2026. Photo: Craig Patterson
A New Tudor Boutique Joins Bloor Street’s Luxury Corridor
The Bloor Street boutique spans approximately 550 square feet and operates as a concession within Royal de Versailles, one of Canada’s most established luxury jewellery retailers. The space benefits from both a dedicated street-facing entrance on Bloor Street and internal access from within the Royal de Versailles store, creating a dual-point entry experience that aligns with Tudor’s emphasis on accessibility and visibility.
From Tudor’s perspective, Bloor Street remains a critical luxury destination in Canada. The spokesperson points to the street’s concentration of high-end brands, consistent pedestrian traffic, and long-standing reputation as the country’s most established luxury retail corridor. The partnership with Royal de Versailles was described as particularly important, given the retailer’s deep expertise in luxury watches and its long-standing relationship with Tudor.
The building itself has also become part of the story. The unified façade, which aligns architecturally with the Rolex presence in the same building, has added a distinctive visual identity to this stretch of Bloor Street. Tudor views this cohesion as enhancing both the retailer’s and the brands’ collective presence while still allowing each brand to express its own identity.
Tudor at 101 Bloor St. W. in Toronto. Photo: Michael Muraz
Inside the Royal de Versailles Tudor Boutique
Although compact in size, the Bloor Street boutique was designed to deliver a full Tudor brand experience. The spokesperson explains that the 550-square-foot layout prioritizes immersion and storytelling rather than scale. Upon entering the space, visitors are immediately introduced to Tudor’s brand universe through a series of carefully designed visual and experiential touchpoints.
A central experience table highlights elements of Tudor’s manufacturing process, with particular attention given to bronze watchmaking, a material closely associated with some of the brand’s most distinctive models. A bar-style counter functions as both a hospitality feature and a sales area, reinforcing a welcoming, conversational environment rather than a traditional showroom feel.
Visual elements throughout the boutique reference Tudor’s brand partnerships, ambassadors, and heritage narratives. These displays are designed to evolve throughout the year, ensuring that repeat visitors encounter fresh content while maintaining a consistent brand language. According to the spokesperson, the result is a bright, inviting, and visually striking space that effectively communicates Tudor’s identity.
Tudor at Yorkdale Shopping Centre. in Toronto. Photo: Tudor
Yorkdale, The Starting Point for Tudor in North America
Tudor’s Canadian boutique journey began more than five years earlier at Yorkdale Shopping Centre, where the brand opened its first mono-brand boutique in Canada and North America in November 2020. Operated in partnership with Raffi Jewellers, the Yorkdale boutique measures approximately 450 square feet.
The opening was significant for Canada’s luxury retail landscape, as it marked the first time the brand committed to a standalone mono-brand format anywhere in North America. While the boutique faced immediate challenges due to pandemic-related lockdowns shortly after opening, Tudor and its retail partner adapted quickly through digital appointments and online engagement.
According to the Tudor spokesperson, Yorkdale continues to demonstrate the importance of physical retail in the luxury watch category. The mall’s concentration of high-end brands and its role as Canada’s most productive luxury shopping centre have contributed to strong long-term performance, reinforcing Tudor’s confidence in the Canadian market.
Vancouver’s Alberni Street Boutique Opened in 2021
Following the Yorkdale opening, Tudor expanded westward with the launch of a mono-brand boutique on Alberni Street in Vancouver in 2021. Located within the city’s established luxury retail corridor, the Alberni Street boutique became Tudor’s second mono-brand location in Canada and North America.
The spokesperson describes Vancouver as a critical market for Tudor, supported by a strong luxury consumer base and a growing appreciation for high-quality mechanical watches. The Alberni Street location allowed Tudor to establish a permanent presence in Western Canada while maintaining strong relationships with authorized retailers throughout the region.
Tudor at 101 Bloor St. W. in Toronto. Photo: Michael Muraz
Entering Quebec with Royalmount in Fall 2025
Tudor’s third Canadian boutique opened in Fall 2025 at Royalmount, marking the brand’s first mono-brand location in Montreal and its entry into the Quebec market through a boutique format. The Royalmount boutique is operated in partnership with Cambridge-based Raffi Jewellers.
From Tudor’s perspective, Montreal represents a market with significant upside. The spokesperson notes that as Royalmount matures, the boutique is expected to benefit from increased foot traffic and growing brand awareness.
Oakridge Park to Become Tudor’s Largest Canadian Boutique
The next phase of Tudor’s Canadian expansion will unfold in Vancouver with the opening of a new boutique at Oakridge Park, scheduled for March 2026. This location will be Tudor’s largest boutique in Canada, spanning approximately 1,500 square feet, and will be operated in partnership with Global Watch Company, which also manages the brand’s downtown Vancouver boutique.
The larger footprint will allow Tudor to introduce an expanded experiential concept.
Positioned adjacent to Rolex, the Oakridge Park boutique is expected to further reinforce Tudor’s standing within the luxury watch category while offering a more comprehensive brand journey.
Tudor at Royalmount in Montreal. Photo: Tudor
Maintaining a Balanced Retail Ecosystem
Despite the growth of its boutique network, Tudor remains committed to maintaining a balanced distribution model in Canada. The spokesperson emphasizes that the brand does not intend to shift entirely toward mono-brand retail. Instead, Tudor continues to value its network of authorized retailers, including shop-in-shops and multi-brand jewellery stores.
E-commerce represents a growing but still secondary component of Tudor’s Canadian business. According to the spokesperson, all Canadian retail partners offer digital purchasing options and deliver an omnichannel approach to client service.
The customer journey is increasingly omnichannel. Many consumers begin their research online before completing a purchase in-store, while others discover the brand physically and later transact digitally. This behaviour is particularly common among younger buyers, a demographic that Tudor continues to attract due to its positioning within entry-level luxury watchmaking.
Luxury Watch Demand Holds Firm in Canada
Despite broader economic uncertainty, Tudor’s performance in Canada over the past year has been described as strong. The spokesperson notes that luxury watches have remained resilient, supported by stable financial markets and a growing base of consumers entering the category for the first time.
Canada is characterized as a developing luxury watch market rather than a fully mature one, which continues to create opportunities for growth. Tudor’s value proposition, combining Swiss watchmaking credibility, heritage, and relative accessibility, positions the brand well to capture both new customers and repeat collectors.
A Century-Young Watch Brand with a Distinct Identity
Founded in 1926, Tudor is marking its 100th anniversary of carefully balanced heritage, independence, and accessibility within the world of Swiss watchmaking. The brand was established by Hans Wilsdorf, the founder of Rolex, with a clear and deliberate purpose. Wilsdorf envisioned a watch that upheld the reliability, durability, and precision associated with Rolex, but at a more accessible price point. That founding philosophy continues to shape Tudor’s positioning today.
While often described as a sister brand to Rolex, Tudor has developed its own distinct identity over the decades. It is not positioned as a derivative or secondary offering, but rather as a standalone luxury watch brand with its own design language, technical innovations, and loyal following. Tudor watches are known for their strong connection to heritage, particularly in professional diving and military-issued timepieces, while also appealing to a new generation of collectors seeking authenticity and value. Ownership of Tudor remains unique within the luxury watch industry. Both Tudor and Rolex are owned by the Hans Wilsdorf Foundation, a charitable trust created by Wilsdorf himself. This structure allows the brands to operate with a long-term strategic focus, free from the short-term pressures often associated with publicly traded or conglomerate-owned luxury groups.
