Zucora announces the appointment of David Cohn as Vice President of National Sales.
With more than 13 years of proven leadership experience and a consistent focus on revenue growth, David has played a pivotal role in Zucora’s continued success and market expansion.
In this expanded role, David will lead the company’s sales strategy, supporting continued growth and strengthening partnerships with key market partners. He will also continue to lead and coach Zucora’s national sales team, ensuring our representatives and agents remain focused on helping home furnishings retailers drive meaningful growth and lasting success.
“David is relentlessly focused on creating value for our retail partners. His genuine care for people, combined with his strategic mindset, has been instrumental in helping build Zucora into Canada’s leading product protection company.” said Brad Geddes, President and CEO.
Commenting on his appointment, David added “As Vice President of Sales, my focus is simple: helping our partners win. By staying true to our philosophy of people helping people and putting people first, we have the opportunity to support more partners, strengthen relationships, and make a positive, lasting impact.”
This appointment reflects Zucora’s ongoing commitment to partner success, sustainable growth, and engaging in leadership that supports its long-term vision.
About Zucora
For more than 45 years, Zucora has partnered with Canada’s leading home furnishing and appliance retailers to deliver innovative protection plans that add value and help Canadians protect the home investments they’ve worked hard for.
ZUCORA nomme David Cohn au poste de vice-président, Ventes
London (Ontario) — 1er janvier 2026
Zucora annonce la nomination de David Cohn au poste de vice-président, Ventes nationales.
Fort de plus de 13 années d’expérience en leadership et reconnu pour son approche axée sur la croissance des revenus, David a joué un rôle déterminant dans le succès continu de Zucora et dans l’expansion de sa présence sur le marché.
Dans le cadre de ces fonctions élargies, David sera responsable de la stratégie nationale des ventes de l’entreprise. Il soutiendra la croissance continue de Zucora tout en renforçant les partenariats avec les acteurs clés du marché. Il continuera également à diriger et à accompagner l’équipe nationale des ventes, afin que les représentants et agents demeurent pleinement engagés à aider les détaillants de meubles et d’électroménagers à générer une croissance durable et des résultats concrets.
« David est animé par une volonté constante de créer de la valeur pour nos partenaires détaillants. Son attention sincère portée aux gens, combinée à sa vision stratégique, a été déterminante dans la croissance de Zucora et dans sa position de chef de file canadien en matière de plans de protection », a déclaré Brad Geddes, président et chef de la direction.
Commentant sa nomination, David Cohn a ajouté : « À titre de vice-président, Ventes, ma priorité est simple : aider nos partenaires à réussir. En restant fidèles à notre philosophie et en plaçant les gens au cœur de nos décisions, nous avons l’occasion de soutenir davantage de partenaires, de renforcer nos relations et d’avoir un impact positif et durable. »
Cette nomination témoigne de l’engagement continu de Zucora envers la réussite de ses partenaires, une croissance durable et un leadership aligné sur sa vision à long terme.
À propos de Zucora
Depuis plus de 45 ans, Zucora collabore avec les principaux détaillants canadiens de meubles et d’électroménagers afin d’offrir des plans de protection novateurs qui créent de la valeur et aident les Canadiens à protéger les investissements qu’ils ont faits pour leur domicile.
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.
Lululemon on Robson Street in Downtown Vancouver. Photo: Lee Rivett.
Lululemon Athletica Inc. is entering early 2026 with momentum from a strong holiday selling season, even as the company navigates leadership change and an intensifying governance dispute involving its founder and activist investors.
The Vancouver based athleticwear retailer said Monday that it expects both net revenue and diluted earnings per share for its fourth quarter to land at the high end of previously issued guidance, signalling resilience during one of the most closely watched periods of the retail calendar.
Lululemon chief financial officer Meghan Frank said the updated outlook reflects the company’s performance over the holiday season, which spans some of the busiest shopping periods of the year, including Black Friday, the week leading up to Christmas, and Boxing Day.
The fourth quarter began in early November, and the company had earlier forecast revenue in a range of US$3.5 billion to US$3.56 billion, with diluted earnings per share between US$4.66 and US$4.76. Lululemon said it is now tracking toward the high end of both ranges.
The company did not revise its outlook for gross margin, selling, general and administrative expenses, or its effective tax rate, suggesting that operating assumptions remain intact despite a volatile external environment.
Main floor (women’s) at Lululemon, Yonge & Bloor in Toronto. Photo: Craig Patterson
Strong Results Arrive Amid Leadership Transition
The positive holiday update comes at a pivotal moment for Lululemon, which is preparing for a major leadership transition. On December 11, the company announced that chief executive officer Calvin McDonald will step down at the end of January.
McDonald, who assumed the role in 2018, oversaw a period of significant expansion that included deeper penetration into menswear, major sports league partnerships, and meaningful international growth. At the same time, the brand has faced growing scrutiny around innovation cadence and competitive positioning.
Rivals such as Alo and Vuori have gained traction in the premium athleisure space, while analysts and investors have raised concerns that Lululemon has struggled to deliver sufficient product newness, particularly in colourways, fabrics, and silhouettes that resonate with repeat customers.
Activist Pressure and Founder Criticism Intensify
Lululemon’s strong holiday quarter performance is unfolding against the backdrop of renewed criticism from founder Chip Wilson, who left the board in 2015 but has remained an outspoken critic of management and governance decisions.
Wilson has accused the company’s board of eroding the brand’s premium positioning and destroying shareholder value, and has argued that the search for McDonald’s successor should be led by new, independent directors. In late 2025, he escalated his campaign by indicating his intention to nominate three candidates to Lululemon’s board at the 2026 annual meeting.
Those nominees include Marc Maurer, former co chief executive of Swiss performance footwear brand On Holding, Laura Gentile, former chief marketing officer at ESPN, and Eric Hirshberg, former chief executive of Activision. Wilson has framed the slate as a necessary reset to restore creativity, brand relevance, and long term value creation.
Elliott Management Adds Another Layer of Complexity
Adding to the governance pressure, activist investor Elliott Management has built a stake of more than US$1 billion in Lululemon. Elliott is reportedly advocating for Jane Nielsen, a former Ralph Lauren executive, to be named the company’s next chief executive.
The presence of both Wilson and Elliott has heightened the stakes around the CEO search and board composition, increasing the risk of a prolonged and distracting proxy contest at a time when the company is also addressing slowing growth in North America.
Board Defends Strategy and Governance Record
Lululemon has pushed back against claims that its board lacks independence or experience. The company has noted that more than a third of its directors have joined in the past four years and that the board has overseen nearly US$9 billion in revenue growth and roughly sixfold growth in operating income over the past decade.
In a December 29 press release, the company said, “The Lululemon board of directors will continue to take actions that we believe are in the best interests of all the company’s shareholders.”
The retailer has said it engaged with Wilson to better understand his concerns and sought information about his proposed nominees. At the same time, it has warned that installing his slate and moving to annual board elections could significantly increase his influence and result in a costly proxy fight.
Apple, an American technology company, is celebrating a record-breaking year for its services in 2025. The company has seen remarkable growth marked by innovations and global expansions that have enhanced user experiences. Significant milestones include increased engagement across key platforms like Apple Music, Apple TV, and Apple Pay during the past year.
As part of their achievements, Apple services engaged over 850 million average weekly users globally. Apple Music reached all-time highs in listenership and subscribers, while Apple TV saw a substantial increase in viewer hours, achieving a 36% growth compared to the previous year. Eddy Cue, Apple’s senior vice president of Services, remarked on the enthusiasm customers showed during the holiday season, with records set in the App Store and Apple Pay.
Key Highlights from 2025
The App Store facilitated extensive developer earnings, surpassing $550 billion since its inception in 2008. The platform saw unprecedented engagement, particularly between Christmas Eve and New Year’s Day, along with record customer spending on digital goods and services.
In 2025, Apple Pay played a crucial role in securing transactions, eliminating over $1 billion in fraud. It also generated more than $100 billion in additional merchant sales globally, significantly contributing to the peak holiday shopping period. As Apple introduces Digital ID in Wallet, users can expect enhanced security and convenience when making transactions.
Innovations and Expansions
Apple services have seen transformative updates, improving personalization and user engagement. Apple Maps expanded its Detailed City Experience to new locations and incorporated intelligent features that make navigation more intuitive. New tools in Apple Music, like Lyrics Translation and Enhanced Dialogue, have made the platform more engaging and accessible.
Apple Arcade also saw a boost, launching more than 50 new family-friendly titles without ads, solidifying its place as a leading gaming service. In addition, Apple Fitness+ expanded into 28 new markets, making it more accessible to international users. This move included introducing digital dubbing in multiple languages, further enhancing its appeal.
Looking Ahead
Apple’s performance in 2025 has laid the groundwork for continued innovation. The company aims to maintain its growth trajectory while upholding a commitment to user privacy and exceptional customer experiences. As Apple looks ahead, the focus will remain on developing new functionalities across its service platforms to enrich user engagement.
With an unwavering drive to innovate, Apple aims to enhance its services while expanding its global reach, making 2025 a remarkable year in its history.
Kits Eyecare Ltd. says it has appointed Angela (Scardillo) MacInnis as chief marketing officer, adding a senior marketing executive to its leadership team as the company continues to scale its operations.
The Vancouver-based eyecare company said the appointment took effect Jan. 6. MacInnis joins the executive leadership team and assumes responsibility for the company’s marketing strategy and brand development.
Image of Angela MacInnis, CMO (CNW Group/KITS Eyecare Ltd.)
Executive appointment
Kits said MacInnis brings more than 15 years of senior leadership experience at Best Buy Canada, including time as senior vice-president of marketing, along with more than 16 years in agency leadership roles at DDB.
The company said her background includes experience in ecommerce, brand building and scaling customer-focused businesses. In her new role, Kits said MacInnis will help shape long-term strategy while strengthening the company’s market presence.
Roger Hardy
“Angela brings a rare combination of brand leadership, operating rigor, and customer obsession,” said Roger Hardy, co-founder and CEO of Kits Eyecare. “Her experience scaling an iconic consumer brand while maintaining a relentless focus on the customer makes her an excellent fit for KITS as we continue to grow and expand our reach.”
Leadership perspective
MacInnis said the company’s customer-focused approach and growth potential were key factors in her decision to join.
“I was drawn to KITS because the brand is built around the customer and makes eyewear easy,” said MacInnis. “It’s a business designed to scale, and I’m excited to join Roger and the leadership team to help take the brand even further from here.”
Kits said MacInnis will be a key member of the executive team as the company moves into its next phase of growth.
Growth context
The company said the appointment comes during a period of strong momentum as it continues to scale its business. Kits did not provide financial details or specific growth targets in the announcement.
Kits trades on the Toronto Stock Exchange under the symbol KITS.
Company overview
Kits Eyecare describes itself as a vertically integrated eyecare provider offering prescription glasses and contact lenses through a digital platform. The company said it operates in-house lens manufacturing and uses a digital fitting experience powered by OpticianAI.
Kits said its products are designed in Canada and delivered to customers worldwide. The company did not disclose employee counts, revenues or other operational metrics in the announcement.
Canadians are heading into the new year bracing for mounting financial challenges, with a strong majority (71%) expecting the cost of living to worsen. According to the latest MNP Consumer Debt Index conducted quarterly by Ipsos, this pessimism extends well beyond prices, reflecting a broader sense that economic conditions will deteriorate in 2026.
“There is a widespread sense that household finances will come under increasing pressure, fueling heightened anxiety about economic security in the year ahead,” explains Grant Bazian, president of MNP LTD, the country’s largest insolvency firm. “Canadians expect most aspects of daily life to worsen rather than improve in 2026.”
A majority believe the economy overall will worsen (59%) this year, and as many expect housing affordability to deteriorate (59%). Canadians also anticipate rising pressure from interest rates and inflation (54%), unemployment and the job market (52%), and Canada’s relationship with the United States (51%). Canadians believe everyday financial pressures will intensify, with the majority anticipating higher taxes (53%), and about half expecting transportation (50%) and healthcare costs (48%) to worsen. The majority also have concerns about rising poverty and inequality (62%) as well as worsening government deficit and debt (66%), said MNP.
While Canadians express pessimism about what may come this year, there is some cause for optimism. The MNP Consumer Debt Index edged up one point from last quarter to 87 points, marking the first time since its inception that the Index has improved in December and bucking the typical seasonal trend of deteriorating debt sentiment, it said.
Grant Bazian
Two in five Canadians (41%) say they are within $200 of not being able to pay their bills each month, down seven points from last quarter and the lowest level measured in the post-pandemic period. At the same time, the average amount Canadians have left after monthly expenses has risen by $163 since last quarter, now sitting at $907. While these gains point to modest financial relief, fewer than half of Canadians (47%) report having six months of emergency savings, leaving many households vulnerable to disruption, added the MNP report.
“Despite pessimism about 2026, there are signs of cautious optimism, breaking from the Index’s usual seasonal decline and suggesting that some households are entering the new year with slightly more financial breathing room,” said Bazian. “Whether Canadians respond to financial stress by taking action or avoiding their debt often comes down to how much financial flexibility they feel they have. For some, their breathing room has improved, enabling them to make adjustments and seek solutions. For others, ongoing economic uncertainty continues to drive debt avoidance. Sustained financial pressure is prompting both decisive action and withdrawal among Canadians.”
Financial Fight or Flight: How Canadians Are Responding to Financial Stress
As financial pressures intensify, Canadians are responding in markedly different ways. Nearly three in five (59%) are adopting a “fight” mentality, taking proactive steps such as adjusting their budgets (43%), attempting to consolidate debt (12%), or seeking advice from a financial professional (11%) as they try to regain control amid ongoing strain. At the same time, nearly one-third of Canadians (32%) are taking a “flight” response, including avoiding thinking about their financial responsibilities (12%), steering clear of financial discussions with family or professionals (15%), or relying on credit to cover essential expenses (17%). Meanwhile, fifteen percent (15%) say they feel financially frozen, unsure where to even begin when facing financial stress, explained MNP.
“Even when there are small signs of financial improvement, the concern with many Canadians being in financial flight mode is that it can create a false sense of short-term relief,” said Bazian. “Avoiding bills and conversations about finances or relying more heavily on credit can make financial stress feel manageable in the moment, but those behaviours often allow problems to grow quietly in the background. As Canadians head into an uncertain year, that can make it harder to regain control later on.”
Younger Canadians aged 18–34 are significantly more likely to lean toward a flight response (51%) when under financial stress, as are lower-income earners, with one-third of Canadians earning under $40,000 reporting similar behaviours (34%). This younger age group is also the most likely to feel financially paralyzed (23%) compared to other age groups, and is more likely to avoid discussing financial matters with family or professionals (22%), according to the report.
While the Bank of Canada held its last policy interest rate at 2.25%, rates remain a critical source of stress for Canadians. Nearly two in three (64%, +1 pt) say they urgently need interest rates to come down. Even then, relief may be limited: nearly half (48%, +4 pts) remain concerned about their ability to repay debt, and more than two in five (44%, +2 pts) fear that a future increase in rates could push them toward bankruptcy. For heavily indebted households, these concerns underscore just how thin the margin for financial stability remains as they look ahead to the coming year, said MNP.
“Even where Canadians see some improvement in their own debt situation, confidence about the year ahead remains fragile, particularly among those carrying high levels of debt,” noted Bazian. “For these households, ongoing affordability challenges and borrowing costs leave little room for error as they head into 2026.”
Debt Stress Runs High, Yet Professional Help Remains Underused
“Despite widespread concern about costs, debt, and the year ahead, relatively few Canadians are turning to professional support when facing financial stress. Just over one in 10 Canadians (11%) say they have sought advice from a financial professional as part of their efforts to fight back against financial strain. Fifteen percent (15%) avoid discussing financial matters with family or professionals altogether, while one in 10 (12%) avoid any kind of thinking about their financial responsibilities,” said the report.
“These findings echo a recent joint consumer alert from the Office of the Superintendent of Bankruptcy (OSB) and the Canadian Association of Insolvency and Restructuring Professionals (CAIRP), which highlighted how stress and stigma can prevent Canadians from asking for help and delay access to trusted, regulated guidance from Licensed Insolvency Trustees — professionals qualified to help individuals understand all available options and provide judgment-free support.”
“Too many Canadians are trying to navigate financial challenges in isolation. There are government-regulated professionals available to help indebted Canadians understand debt-relief options, make informed decisions, and prevent financial stress from escalating,” said Bazian.
Japanese apparel retailer Uniqlo has officially confirmed its long anticipated entry into the Winnipeg market, announcing the opening of a store at CF Polo Park Mall later this spring. The announcement marks another milestone for the brand’s Canadian expansion strategy and confirms Manitoba as the latest province to join Uniqlo’s steadily growing national footprint.
The CF Polo Park opening represents Uniqlo’s first officially announced Winnipeg location. However, it will not be the only one. Local media reports and previously disclosed permitting activity indicate that Uniqlo is also preparing to open a second Winnipeg store at St. Vital Centre. Retail Insider first reported on the St. Vital Centre location in December 2025, based on city building permits and landlord filings, positioning Uniqlo’s Manitoba entry as a two store rollout rather than a single site test.
Together, the two locations signal a confident market entry and reinforce Uniqlo’s strategy of launching with multiple stores in new metropolitan areas where demand, demographics, and mall infrastructure support scale.
CF Polo Park in Winnipeg. Image: Cadillac Fairview
CF Polo Park Anchors Uniqlo’s Official Winnipeg Debut
In its announcement, Uniqlo confirmed that the CF Polo Park store will open this spring, bringing the brand’s LifeWear concept to Manitoba for the first time. CF Polo Park is Winnipeg’s largest and most productive enclosed shopping centre, long regarded as the city’s dominant regional retail destination. Its tenant mix, traffic volumes, and central location align closely with Uniqlo’s preferred Canadian mall profile.
Uniqlo’s CF Polo Park store will be on the second level of the shopping centre as per the lease plan below. Uniqlo will occupy more than 18,000 square feet in space Y015 on the plan, and possibly in some adjacent vacant spaces.
Screen shot of level 2 of CF Polo Park in Winnipeg, via Cadillac Fairview
The retailer emphasized that the Winnipeg opening reflects growing customer affinity for LifeWear and positions the brand to serve Manitoba consumers more directly. Since launching in Canada in 2016, Uniqlo has consistently targeted high performing regional malls as entry points into new provinces, using flagship caliber locations to establish brand awareness and operational scale.
Yuya Tanahashi, Chief Operating Officer of UNIQLO in Canada, described the opening as a milestone moment for the company’s national growth.
“This is a massive milestone for UNIQLO in Canada. As UNIQLO continues to resonate with Canadian customers, Winnipeg offers exciting potential. We aim to deliver essential clothing that complements their lifestyles as building blocks of their wardrobe. We look forward to introducing our innovative LifeWear products here, and to engaging with new customers.”
The CF Polo Park store will offer Uniqlo’s full LifeWear assortment across men’s, women’s, kids, and baby categories. Shoppers can expect seasonal collaborations, the UT graphic T shirt range, and the same proprietary fabric technologies that have driven strong performance across Canada, including HEATTECH and AIRism. As with other Canadian locations, the Winnipeg store will be fully integrated with uniqlo.com, combining physical retail with omnichannel convenience.
Exterior of St. Vital Centre. Photo: St. Vital Centre
A Second Store at St. Vital Centre Underscores Market Confidence
While the CF Polo Park store represents Uniqlo’s official announcement, it is only one part of the brand’s Winnipeg strategy. Retail Insider previously reported that Uniqlo is preparing to open a store at St. Vital Centre, Winnipeg’s second largest enclosed shopping mall. Building permits issued by the City of Winnipeg confirmed a substantial interior renovation project designed to accommodate a large format Uniqlo store.
The permit documentation outlines the consolidation of multiple mall units into a single retail footprint, along with corridor modifications and mechanical and electrical upgrades. According to landlord filings, the space is being prepared specifically for Uniqlo, signaling a long term commitment rather than a temporary or experimental location.
St. Vital Centre serves Winnipeg’s southeast trade area and draws from both established neighbourhoods and rapidly growing suburban communities. With more than 900,000 square feet of leasable area, ample parking, and a strong regional draw, the mall fits Uniqlo’s Canadian site selection model closely.
The arrival of Uniqlo also fills a notable gap left by Hudson’s Bay, which closed its St. Vital location following its bankruptcy. For the mall, Uniqlo represents a contemporary global anchor capable of driving traffic, refreshing the tenant mix, and supporting the centre’s next phase of repositioning.
Nearly a Decade of Measured Growth in Canada
Uniqlo’s entry into Winnipeg builds on nearly ten years of carefully paced expansion across Canada. The brand entered the market in 2016 with two flagship stores in Toronto, at CF Toronto Eaton Centre and Yorkdale Shopping Centre. Those openings were positioned as long term investments and served as beachheads for a national rollout.
From Toronto, Uniqlo expanded westward and eastward in deliberate stages. Vancouver became an early priority, followed by Calgary, Edmonton, Ottawa, and Montreal. Rather than pursuing rapid saturation, the company focused on high traffic malls, regional clustering, and operational consistency.
Uniqlo operates 37 stores across Canada, making it one of the most significant international apparel retailers in the country. Ontario remains the brand’s largest market, but recent expansions have emphasized geographic balance and underserved regions.
The opening of a store in Victoria at Mayfair Shopping Centre in late 2025 marked Uniqlo’s first location on Vancouver Island and underscored its coast to coast ambitions. Similar logic applies to Winnipeg, which represents a critical prairie market long absent from Uniqlo’s Canadian map.
A Strong Pipeline of New Canadian Markets
The Manitoba expansion fits squarely within Uniqlo’s broader North American growth strategy. Fast Retailing has set a target of reaching 200 stores across North America by 2027, with Canada playing a central role in that plan .
Uniqlo is expected to to continue filling geographic gaps across the country following the Winnipeg launch. Markets such as Halifax, Saskatoon, and Regina are increasingly viewed as logical next steps, particularly within leading regional shopping centres capable of supporting Uniqlo’s large format model.
A consistent force behind Uniqlo’s Canadian expansion has been Aurora Retail Group. Jeff Berkowitz, Co-CEO of the firm, has represented Uniqlo in Canada since the brand entered the country in 2016. He has negotiated every Uniqlo lease nationwide, playing a central role in site selection, landlord negotiations, and long term market strategy.
LifeWear and the Canadian Consumer
At the core of Uniqlo’s success in Canada is its LifeWear philosophy, which emphasizes simple, high quality, functional clothing designed to fit everyday life. Unlike traditional fast fashion models driven by rapid trend cycles, Uniqlo focuses on longevity, fabric innovation, and versatility.
The model has resonated with Canadian consumers seeking value, durability, and seasonally appropriate apparel. Products such as HEATTECH have proven particularly effective in cold climate markets, while AIRism and Ultra Light Down support year round layering and comfort.
Uniqlo’s vertically integrated SPA model allows it to control product development, manufacturing, and distribution, supporting consistent quality and pricing across markets. This structure has enabled the brand to scale while maintaining operational discipline.
Employment and Community Engagement in Winnipeg
As part of the Winnipeg launch, Uniqlo confirmed plans to expand its hiring efforts in the city. The company stated that it aims to create a welcoming and inclusive workplace, with multiple roles available across store operations and management.
Uniqlo will also host a series of career fairs in Winnipeg, providing opportunities for prospective employees to learn more about the organization and its culture. Interested applicants are encouraged to explore opportunities through Fast Retailing’s career platform: www.fastretailing.com/employment
On that basis, Groupe Dynamite said it is updating fiscal 2025 comparable store sales growth guidance to a range of 26.5% to 27.0%. Furthermore, based on strong year-to-date performance and improved visibility for the remainder of the fiscal year, the Company is raising by 100 bps the lower end of its fiscal 2025 adjusted EBITDA margin guidance to 36.0%, with the range now expected to be between 36.0% and 37.0%.
Turning to digital, during those same 9 weeks, online revenue growth significantly outpaced brick-and-mortar revenue growth, resulting in a higher online penetration rate versus the prior year. This performance underscores strong customer engagement across digital channels. As a reminder, the company’s comparable sales metric reflects the performance of the brick-and-mortar channel only, it said.
Groupe Dynamite
With respect to real estate activity, the company said it expects 20 gross store openings and 11 store closures, resulting in 9 net new store openings for fiscal 2025 and bringing total expected store count to 307 at year end. All store openings to date were under the Garage banner and located in the United States.
The company is also revising its previously communicated fiscal 2025 capital expenditure guidance to a range of $80.0 million to $90.0 million, from $85.0 million to $95.0 million, mainly reflecting payments timing.
Stacie Beaver
“Our values-led culture continues to drive disciplined execution, resulting in strong holiday performance. This momentum, supported by our selective real estate strategy and rising digital engagement, is driving meaningful margin expansion and reflects the strength of our luxury-inspired operating model. As we close out fiscal 2025, we’re preparing to launch UK e-commerce in Q1 and look forward to opening our first UK stores also later in Q1,” said Stacie Beaver, President and Chief Operating Officer.
The table below outlines the Company’s revised financial annual guidance ranges for fiscal 2025, replacing our previously disclosed guidance:
Revised Fiscal 2025 Guidance
Prior Fiscal 2025 Guidance
Real estate activity
↑ 20 gross new store openings↑ 9 net new store openings
18 to 20 gross new store openings8 to 9 net new store openings
Comparable store sales growth
26.5% to 27.0%
25.5% to 27.5%
Adjusted EBITDA margin
↑ 36.0% to 37.0%
35.0% to 37.0%
CAPEX
↓ $80.0 to $90.0 million
$85.0 to $95.0 million
Photo- Groupe Dynamite
Groupe Dynamite said it intends to release its full financial results for Q4 and fiscal 2025 on or around Wednesday, April 1, before markets open, followed by a conference call with management to discuss the results on the same day.
Groupe Dynamite Inc. operates banners GARAGE and DYNAMITE.
L.L.Bean Inc. has promoted long-time executive Greg Elder to president and chief executive officer, selecting the company’s chief retail officer to lead the outdoor retailer through its next phase of growth.
The appointment follows an internal and external search and comes as the Freeport, Maine–based company prepares to close its fiscal year in late February. Elder will begin transitioning into the role in the first quarter, while outgoing CEO Stephen Smith will remain in an advisory capacity through March.
Leadership transition after decade under Smith
Smith announced in July 2025 that he would step away after 10 years leading the privately held company. The board of directors, chaired by Shawn Gorman, then began a search for a successor.
Shawn Gorman
Elder has worked at L.L.Bean for nearly two decades and most recently served as chief retail officer, overseeing stores, wholesale, international and direct-to-business operations. He previously held the roles of vice-president of stores and vice-president of retail and has worked closely with Smith for much of the past decade.
“We were deliberate in finding a leader who will continue to honor our brand heritage while positioning us for the next era of growth,” Gorman said. “Greg rose to the top because of his deep respect for our history, incredible knowledge of our business, strong track record of results and clear vision for the future.”
Focus on next phase of strategy
In announcing the promotion, the company said Elder will be responsible for implementing the next phase of its long-term plan, described internally as an “evolve and amplify” strategy. The approach is intended to build on the retailer’s legacy while advancing growth initiatives across its operations.
As president and CEO, Elder will guide L.L.Bean as it continues to develop its omni-channel business, expand its retail footprint in new and growing markets and adjust its product assortment, according to the company.
Greg Elder
“It’s an incredible honor to be named CEO of L.L.Bean. This brand has shaped who I am — not just as a leader, but as someone who deeply believes in the power of the outdoors to bring people together,” Elder said. “We have a remarkable foundation built on purpose, quality and trust, and I’m excited to unlock sustainable growth through an ‘evolve and amplify’ strategy that strengthens our assortment and deepens our connection with customers for generations to come. I’m thankful to Steve for his leadership and mentorship, and I look forward to working closely with Shawn, the board and the entire L.L.Bean team to write our next successful chapter.”
Board cites continuity and experience
Gorman, who is the great-grandson of founder Leon Leonwood Bean, said the board viewed Elder’s tenure and familiarity with the business as key factors in the decision. The company said the promotion reflects a desire for continuity as L.L.Bean builds on its existing strategic plan.
Smith, who will advise the company during the transition period, pointed to the challenges and changes the business faced during his tenure.
“Leading the L.L.Bean team for the past decade has been the honor of my career,” Smith said. “Together we’ve navigated extraordinary challenges, including the global pandemic, and created meaningful opportunities. Stewarding a brand with such deep heritage and customer loyalty – and helping so many experience the outdoors and the essence of Maine – has been truly rewarding. As I reflect on this chapter, I’m proud of what we’ve built and the foundation we’ve laid for the future. I have full confidence that Greg will continue to advance our existing strategic plan while bringing his own extraordinary vision and leadership strengths to guide L.L.Bean into its next era.”
Stephen Smith
Gorman also acknowledged Smith’s contribution to the company during the leadership change.
“On behalf of the L.L.Bean Board and family, I want to thank Steve Smith for his leadership and partnership over the last decade and during this transition,” he said. “Steve helped guide the company through meaningful cultural transformation while strengthening the business for the long term. His steady leadership, clarity of values and deep commitment to the people and purpose of the brand positioned the organization to evolve without losing sight of what makes it special. We are deeply grateful for his contributions and lasting impact.”
Background and operations
Elder joined L.L.Bean in 2007 after holding leadership roles at Eddie Bauer and Dayton Hudson Corporation, now known as Target. Outside the company, he is a member of the Retail Industry Leaders Association and has previously served on the boards of Wayside Food Programs and the New England Nordic Skiing Association.
Founded in 1912, L.L.Bean remains family owned and operates as a multichannel retailer of outdoor gear and apparel. The company runs 68 stores across 19 U.S. states, as well as 25 locations in Japan and 14 in Canada through a partnership with Jaytex Group. Its flagship retail campus in Freeport operates year-round.
With Elder set to assume the top role, the company said the leadership transition is designed to maintain its core values while positioning the business for continued evolution under new executive leadership.
After nearly two decades at Canada’s most productive mall, Moxies is preparing to serve its final guests at Yorkdale Shopping Centre. The premium casual restaurant chain announced that its Yorkdale location will officially close on January 17, 2026, bringing to a close an eighteen-year run that began in February 2007. Over that period, the restaurant welcomed more than two million guests, becoming a familiar destination for shoppers, business diners, and visitors from across the Greater Toronto Area.
The Moxies Yorkdale closure marks the end of a long-standing presence within a mall that has undergone a dramatic transformation over the same period. While the decision reflects a moment of transition, the company emphasized that it also signals a forward-looking shift as the brand continues to evolve its real estate and growth strategy.
In announcing the closure, Moxies acknowledged both the emotional and operational weight of leaving a location with such a long history. Joanne Forrester, President and Chief Operating Officer of Moxies, described the decision as difficult while expressing pride in what the Yorkdale team built over nearly twenty years.
“While it’s always difficult to close a restaurant, we remain proud of our team’s role in creating memorable experiences for those who have visited our long-standing Yorkdale location,” Forrester said. “This closure is not an end but a step toward our continued evolution, allowing us to focus on future growth opportunities. We are deeply grateful for the loyalty and support of our guests.”
She also recognized the contributions of employees who helped define the location’s identity and guest experience over the years. “We’d also like to take this moment to share our sincere gratitude to the many team members, both past and present, who have provided our guests with the premium hospitality Moxies is known for. Together, we’ve built something exceptional and carry that spirit into our next chapter. We hope that everyone will have the chance to join us for one last time before we finish our final service on January 17, 2026.”
Moxies Yorkdale. Image: Open Table
Yorkdale’s Evolution Shapes the Retail and Dining Landscape
The Moxies Yorkdale closure comes against the backdrop of Yorkdale Shopping Centre’s repositioning as a luxury and lifestyle destination. Since 2012, the mall has completed three major expansions that reshaped its tenant mix and physical footprint. These projects included the Holt Renfrew expansion and new fashion wing completed in 2012 and 2013, a then-Nordstrom-anchored wing that opened in October 2016, and the RH Gallery–anchored westward expansion that debuted in 2017.
Collectively, these developments added hundreds of thousands of square feet and attracted a growing concentration of luxury, contemporary, and experiential brands. As Yorkdale’s retail profile has shifted, so too has the competitive context for food and beverage operators within the property. The departure of a long-standing tenant such as Moxies reflects the ongoing recalibration that occurs as leading malls refine their merchandising strategies and spatial priorities.
Yorkdale continues to transform with new luxury retailers opening stores, as well as a La Maison Simons that opened in the mall’s former Nordstrom space in the fall of 2025.
Yorkdale Shopping Centre in Toronto. Image: Oxford Properties
Continued Strength Across Ontario and Beyond
Despite the Yorkdale closure, Moxies remains firmly committed to the Ontario market. The brand continues to operate nineteen other locations across the province, offering guests its signature menu of fresh, handcrafted dishes alongside a full bar and seasonally inspired cocktails. The company confirmed that guests can continue to expect the same elevated yet approachable dining experience across its remaining restaurants.
Looking ahead, 2026 will also see the reopening of Moxies Barrie in a new location at Park Place. The move signals continued investment in high-quality spaces and reinforces the company’s broader strategy of refining its footprint rather than retreating from key markets.
Moxies Yorkdale. Image: Moxies
A Canadian Brand with a Broader Vision
Founded in Calgary in 1986 as a single deli-style diner, Moxies has grown into a premium casual restaurant chain with more than 50 locations across Canada and additional units in the United States. The brand is part of the family-owned Northland Properties Corporation, whose portfolio spans restaurants, hotels, resorts, and mixed-use developments across North America.
Over the past several years, Moxies has undertaken a series of “foundational improvements,” refreshing restaurant designs, evolving its culinary program, and repositioning the brand to compete in an increasingly crowded upscale casual dining segment. While Canada remains its core market, the company has continued to pursue measured expansion in select US metropolitan areas.
