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Ralph Lauren Opens 2nd Full-Priced Store in Canada

By
Craig Patterson
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Ralph Lauren at 1024 Alberni Street in Vancouver. Photo: Martin Moriarty

New York-based fashion and lifestyle brand Ralph Lauren has opened its second full-priced store in Canada, marking a milestone in the brand’s Canadian expansion strategy. The new boutique, which opened last week, is located at 1024 Alberni Street in downtown Vancouver.

Spanning approximately 5,500 square feet, the newly launched store occupies part of the main floor of a space that had previously housed a Brooks Brothers location. The Vancouver flagship mirrors the scale of Ralph Lauren’s first full-priced Canadian store, which opened in September 2023 at Toronto’s Yorkdale Shopping Centre.

A Strategic Move on Vancouver’s Luxury Corridor

The new Ralph Lauren store is situated in what many now refer to as Vancouver’s ‘Luxury Zone’—a retail corridor that has seen a dramatic transformation over the past decade. Alberni Street is lined with some of the world’s most prestigious fashion and jewellery brands, including Prada, Jimmy Choo, Panerai, Van Cleef & Arpels, and Rolex. Adjacent streets add further cachet with names such as Louis Vuitton, Hermès, Dior, and Cartier.

The Alberni Street lease deal was brokered by Casin Parr and Trevor Thomas of JLL on behalf of Ralph Lauren. Mario Negris and Martin Moriarty of Marcus & Millichap Canada represented the landlord.

This latest addition to Alberni Street’s high-end retail lineup comes as competition intensifies from Oakridge Park, a luxury retail and mixed-use development on Vancouver’s west side. Oakridge Park is expected to open in the fall of this year and will feature a broad cluster of luxury tenants poised to compete directly with downtown Vancouver for consumer dollars.

Ralph Lauren at 1024 Alberni Street in Vancouver. Photo: Martin Moriarty

Part of a Broader Retail Expansion Strategy

Ralph Lauren’s Canadian expansion is part of the company’s global growth strategy known as “Next Great Chapter: Accelerate.” The plan aims to drive long-term, sustainable growth and revitalize the brand’s positioning in key international markets, including North America, Europe, and Asia.

In line with this strategy, Ralph Lauren has been opening flagship and boutique stores while also investing in e-commerce and wholesale partnerships. In October 2023, the company launched RalphLauren.ca, giving Canadian consumers access to its full portfolio of brands including Purple Label, Ralph Lauren Collection, Polo Ralph Lauren, Double RL, and Lauren by Ralph Lauren. The site also features apparel, footwear, accessories, and home goods for men, women, and children.

Wholesale Partnerships and the Hudson’s Bay Closure Impact

In addition to full-price boutiques and e-commerce, Ralph Lauren maintains a strong presence in Canada through its 12 outlet stores and various wholesale partnerships. The brand’s products are carried at major retailers such as Hudson’s Bay, Sporting Life, and Harry Rosen.

However, the pending closure of Hudson’s Bay stores will represent a significant loss of distribution for Ralph Lauren in Canada. Hudson’s Bay has long served as a key wholesale partner, offering in-store Polo Ralph Lauren shops and a variety of Ralph Lauren sub-brands. With the department store’s wind-down, Ralph Lauren may look to accelerate its direct-to-consumer footprint in Canada.

Ralph Lauren at 1026 Alberni Street in Vancouver. Photo: Martin Moriarty

A Rich Canadian Retail History

Ralph Lauren’s recent store openings in Canada mark a return to its roots in the country. The brand once had a widespread presence across Canadian cities under its Polo Ralph Lauren banner. Store openings began in the early 1980s and expanded into numerous urban centres.

In Montreal, Ralph Lauren stores once operated at Westmount Square and along Sherbrooke Street West. Ottawa had locations at the ByWard Market and Bayshore Centre. Toronto featured stores at Hazelton Lanes and Sherway Gardens. In Western Canada, Ralph Lauren locations included Jasper Avenue and later West Edmonton Mall in Edmonton, Banker’s Hall and Mount Royal Village in Calgary, and high-traffic tourist destinations in Banff and Whistler. Victoria, BC also hosted a store on Government Street.

Downtown Vancouver was a focal point for the brand during the late 1980s and early 1990s. A store on Robson Street and a prominent location at 375 Water Street in Gastown helped define Ralph Lauren’s early footprint in the city. In 1989, the Gastown space was converted into the first ‘Polo Country Store’—a concept that did not ultimately succeed but remains a notable chapter in the brand’s experimentation with retail formats.

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Restaurant sales projected to contract in 2025 amid trade war with U.S.: Restaurants Canada

By
Mario Toneguzzi
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Photo by Alex P
Photo by Alex P

While the GST/HST holiday prevented foodservice bankruptcies and boosted sales and employment in the first two months of 2025, the tariff war has thrown the industry into uncharted waters, according to Restaurants Canada’s latest Quarterly Report released on Monday.

Restaurants Canada’s updated 2025 commercial foodservice sales forecast is now in negative territory.

Kelly Higginson
Kelly Higginson

“We now have definite proof that the GST/HST holiday boosted sales and created jobs in the foodservice sector, while preventing bankruptcies,” said Kelly Higginson, President and CEO of Restaurants Canada. “The new federal government can protect Canadian jobs and businesses in every community across the country and help Canadians with affordability by removing sales tax from all food permanently. Taxing a necessity like food is simply a bad approach to taxation.”

In addition to making all food and alcohol sold at restaurants tax-free, Restaurants Canada is advising the new federal government to strengthen the sector by reducing interprovincial trade barriers, reducing EI payroll taxes, and exempting food and food-safe packaging from retaliatory tariffs.

“We face significant challenges, both as an industry and as a country, so government needs to use all the tools at its disposal, including tax policy. We’re eager to work with Prime Minister Mark Carney and his new government on policies that enable the foodservice industry to grow its economic impact, create stable and rewarding jobs for Canadians and feed communities across the country,” added Higginson.

Quarterly Report at a glance:

  • Restaurants Canada expects annual commercial foodservice sales to contract between 0.4% and 1.5% in 2025 and between 0.6% and 1.4% in 2026, depending on how the tariff dispute with the U.S. evolves. Pre-trade war, the forecast for the foodservice industry was a 0.8% growth rate for 2025 and 1% growth in 2026.
  • Commercial foodservice sales are expected to reach between $98 billion and $99 billion in 2025, down from the pre-trade war forecast of $100 billion.
  • If the trade war lasts a year or longer, 71% of restaurant chains say they would eliminate non-essential spending, 63% would increase menu prices, and 50% would delay renovations or capital investments, actions which will have a significant negative spinoff effect on the economy.
  • The GST/HST holiday provided a strong boost to the industry: based on data from Statistics Canada, commercial foodservice sales rose by a robust 7.5% in January. Even after adjusting for menu inflation, real sales rose by 4.3%, the highest real growth since April 2023.
  • In the first two months of 2025, there were 121 restaurant (and accommodation) bankruptcies in Canada compared to 239 in the first two months of 2024. While this is higher than pre-pandemic levels, it represents a 50% year-over-year decline.
  • Employment in the restaurant industry rose to 1,180,000 jobs in February, the highest level since the start of the pandemic. Overall, employment in the restaurant industry grew by 5.6% in the first quarter of 2025 compared to the first quarter of 2024, despite that being historically the slowest time of the year for the industry.
  • Historically low consumer confidence, rising unemployment and stagnant population growth as a result of Canada’s shifting immigration policies are all factors that will hinder foodservice sales in the coming years.

Restaurants Canada is a national, not-for-profit association advancing Canada’s diverse and dynamic foodservice industry. Restaurants are a $120 billion industry employing nearly 1.2 million Canadians and is the number one source of first-time jobs in Canada.

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Canadian skincare brand Three Ships sees soaring demand amid tariffs, embraces ‘Made in Canada’ movement

By
Mario Toneguzzi
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Laura Thompson (L) and Connie Lo
Laura Thompson (L) and Connie Lo

As U.S. trade tensions mount and tariffs weigh heavy on cross-border business, Canadian natural skincare brand Three Ships is turning pressure into opportunity—with homegrown support fueling explosive growth.

Co-founded by Connie Lo and Laura Thompson, the Toronto-based company is finding success not just through innovation, but by leaning into its Canadian identity at a pivotal moment.

“Three Ships is a line of natural skincare products,” said Thompson. “Connie and I originally founded the brand when we were fresh out of school. I graduated with a degree in chemical engineering and Connie was a business commerce grad from Queen’s.”

Laura Thompson (L) and Connie Lo
Laura Thompson (L) and Connie Lo

The pair launched the brand in 2017 under the name Niu Body, with just $4,000—$2,000 each—hand-making products in a condo kitchen and shipping orders from a small apartment. “It was very humble. Bootstrap beginnings,” said Thompson. The company rebranded to Three Ships in 2020.

The mission? Offer high-quality, high-performance skincare made from natural ingredients—at an accessible price.

“We both loved natural skincare products but found that we struggled to find products that were actually natural—so truly from plants and minerals,” Thompson explained. “We realized that there was a gap in the market of products that were high quality, high performance, natural and didn’t break the bank.”

While the company initially operated solely online, it has since expanded to more than 550 retail locations across North America, including all Whole Foods stores in Canada and the U.S., Credo Beauty, The Detox Market, and Amazon, said Lo.

But rising tariffs under U.S. trade policy have created new challenges.

“It’s been a little chaotic—not going to lie,” said Thompson. “We actually started planning for this since back in November. As soon as Trump started talking about tariffs and threatening to levy them against Canada, we took it very seriously.”

To mitigate the impact, the company proactively sent three months’ worth of inventory to its U.S. warehouse in Chicago before the January inauguration.

“That really helped us to not be as impacted as other brands have been because we kind of could see this coming,” said Thompson. “We also made plans to do a price increase if the trade war or tariffs did start being a thing.”

Despite turbulence, a silver lining emerged: a surge in Canadian support.

“We’ve seen a groundswell of support from our Canadian customers and Canadians more broadly. The Made in Canada movement is truly game changing for us,” said Thompson. “Canada’s now just absolutely rocket ship type growth.”

The brand is embracing that momentum.

“One other thing that we’re doing to support our local audience is in Canada we’re actually keeping our prices the same,” Lo added. “We just know that it’s a really challenging time for everyone right now.”

Thompson emphasized how rare that decision is in the beauty industry: 

“Most retailers will mandate that you have to increase the price in both markets. Luckily for us, all of our retailers are great and none of the ones that we’re in right now require that.”

Connie Lo (L) and Laura Thompson
Connie Lo (L) and Laura Thompson

Instead of passing on costs to Canadian consumers, the founders are doubling down on local marketing efforts.

“We proactively decided to take some of the budget from the U.S. for some events that we were going to do in L.A. later this summer, and we actually reallocated that to Toronto, Calgary, and Vancouver,” said Lo. 

The company is also working with its retail partners to highlight Canadian-made products more prominently.

“Reaching out to all of our buyers and letting them know you should be putting out signage of Made in Canada. You should be having a separate page on your website for Canadian brands,” said Lo. “And not only are they really grateful but who do you think is going to be top of the page when they create that page? It’s Three Ships.”

While some brands are struggling to navigate current uncertainty, Lo and Thompson see the moment as an opportunity.

“There’s been a lot of negativity,” said Lo. “But the way that Laura and I and our team choose to see this is like, how do you make lemonade out of lemons?”

“Our Canadian sales have grown so much… and we can really establish ourselves as the Canadian skincare brand.”

As for the idea of opening a flagship retail store?

“Probably not,” Lo said. “There’s a lot of overhead involved… maybe in 10 years or something. But for now, we love partnering with our retail partners. But not going to lie, Laura and I love going into stores like some of our retail partners and helping to sell once in a while. Being able to talk face to face with a customer, there’s nothing better.”

With tariffs, currency shifts, and retail disruptions in the headlines, Three Ships is focused on what’s next—and staying nimble.

For now, the ship is sailing full steam ahead.

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Pita Pit celebrates 30 Years of fresh, customizable eats with $100K giveaway and new brand refresh

By
Mario Toneguzzi
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Pita Pit founders John and Nelson in front of the first ever Pita Pit location in Kingston, Ontario, in 1995. Pita Pit celebrates its 30th anniversary this year.
Pita Pit founders John and Nelson in front of the first ever Pita Pit location in Kingston, Ontario, in 1995. Pita Pit celebrates its 30th anniversary this year.

Pita Pit, the Canadian brand known for fresh, customizable pitas and a commitment to healthier eating, is celebrating 30 years of serving Canadians. 

Founded on July 21, 1995, in Kingston, Ontario, Pita Pit has grown from a single storefront into a global franchise with 242 Canadian locations and a presence in international markets.

The 30th anniversary celebration includes a variety of special promotions and initiatives to thank loyal guests and franchise partners, including the brand’s annual Peel & Win contest, which runs from April 15 to May 14 and offers guests a chance to win over $100,000 in prizes.

Peter Mammas, CEO of Foodtastic

“Pita Pit is a resilient and innovative Canadian brand that has stood the test of time thanks to the passion of our franchisees, the loyalty of our guests, and the strength of our community partnerships,” said Peter Mammas, President and CEO of Foodtastic, Pita Pit’s parent company. “We’re incredibly proud of everything this brand and its franchisees have accomplished over the last 30 years and even more excited about what’s to come.”

Foodtastic is one of Canada’s largest restaurant franchisors, operating more than 1,200 locations across the country. Its diverse portfolio includes Freshii, Quesada, Pita Pit, Second Cup, Milestones, and over 22 other banners. 

“We just hired new designers and a brand team to refresh the branding. We feel like the operations are already quite good—the food is great. What’s really needed is a store refresh to make the brand more relevant. So, we’re starting a major renovation program throughout the system,” explained Mammas.

“We’ve slowed down growth a bit until the new branding package rolls out. Once that’s in place, we’re targeting about 15 new locations annually.

Over the last three decades, Pita Pit has evolved its menu far beyond the original pita sandwich. Today, customers can enjoy a wide variety of options including salads, rice bowls, smoothies, snacks, catering services, and gluten-free choices—ensuring the brand stays on top of evolving dietary preferences and lifestyle trends. The “build-your-own pita” experience continues to be a fan-favourite and remains the cornerstone of Pita Pit’s offering, the company said.

Pita Pit founders John and Nelson received keys to a Pita Pit location in 1995. Pita Pit celebrates its 30th anniversary this year.
Pita Pit founders John and Nelson received keys to a Pita Pit location in 1995. Pita Pit celebrates its 30th anniversary this year.

“As we enter this next chapter, I can assure you we’ve got even more exciting and fresh innovations to come, always focused on serving fast, flavourful meals that Canadians can feel good about,” said Mammas.

With legacy partners like Sysco, Coca-Cola, and Unilever standing by its side since day one, Pita Pit said it has built a community of support that reflects the brand’s core mission to impact people and communities positively so that together, they can change lives on both sides of the counter.

“As a proudly Canadian brand, we’re grateful for the people who’ve made this journey possible—our franchisees, our teams, and most importantly, our customers,” said Chris Cann, Brand Leader at Pita Pit. 

“We’ve always believed in doing more than just serving great food. Whether supporting local initiatives or giving back through national programs, our goal has always been to make a real difference in the communities we call home.”

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New PM Faces Pressure to Fix Canada’s Dairy System

By
Sylvain Charlebois
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Dairy Cows. Photo: Canadian Dairy Commission

Prime Minister Mark Carney is no Justin Trudeau. While the team around him may be familiar, the tone has clearly shifted. His first week in office signaled a more data-driven, technocratic approach—grounded in pragmatism rather than ideology. That’s welcome news, especially for Canada’s agri-food sector, which has long been overlooked.

Historically, the Liberal Party has governed with an urban-centric lens, often sidelining agriculture. That must change. Carney’s pledge to eliminate all interprovincial trade barriers by July 1 was encouraging—but whether this includes long-standing obstacles in the agri-food sector remains to be seen. Supply-managed sectors, particularly dairy, remain heavily protected by a tangle of provincially administered quotas that limit flexibility, stifle innovation, and restrict national productivity.

Dairy Supply Management Is Off-Balance

Consider dairy. Quebec produces nearly 40% of Canada’s milk, despite accounting for just over 20% of the population. This regional imbalance undermines one of supply management’s original promises: preserving dairy farms across the country. In reality, the number of dairy farms continues to decline, with roughly 90% now concentrated in just a few provinces—mirroring patterns in the U.S., where there is no federal supply management system. On our current path, Canada is projected to lose nearly half of its remaining dairy farms by 2030—even with supply management in place. Consolidation is accelerating, and it disproportionately benefits Quebec and Ontario at the expense of smaller producers in the Prairies and Atlantic Canada.

Prime Minister Carney must put dairy reform back on the table, regardless of campaign promises. The dairy sector represents just 1% of Canada’s GDP, yet its outsized influence on policy continues to distort economic priorities—benefiting fewer than 9,000 farms out of more than 175,000 nationwide. This is not sustainable. Many Canadian producers are eager to grow, trade, and compete globally, but are held back by a system that prioritizes insulation over opportunity.

It’s also time to decouple dairy from poultry and eggs, which—though also supply-managed—operate with far more vertical integration and competitiveness. Industrial milk prices in Canada are nearly double those in the U.S., undermining both our domestic processors and consumer affordability.

Canadian Prime Minister Mark Carney. Photo: The Canadian Press

CUSMA Renegotiation Is a Strategic Opening

The upcoming CUSMA renegotiation is a chance to reset. Rather than resist change, the dairy sector should seize the opportunity to modernize. Reforms could include a more open quota system for export markets, and a complete overhaul of the Canadian Dairy Commission to increase transparency around pricing. Canadians deserve to know how much milk is wasted each year—estimated at up to a billion litres—and whether a strategic reserve for powdered milk (much like our existing butter reserve) would better serve national food security.

Global milk demand is rising. According to The Dairy News, the world could face a shortage of 30 million tonnes by 2030—three times Canada’s current annual production. Yet under current policy, Canada is not positioned to contribute meaningfully to meeting that demand. The domestic focus on protecting margins and internal price fairness is blinding the sector to the broader market realities.

Past Mistakes Must Not Be Repeated

We’ve been here before. The last time CUSMA was renegotiated, Canada offered modest concessions to foreign competitors and then overcompensated its dairy sector for hypothetical losses. This created an overcapitalized industry, inflated farmland prices, and diverted attention from more pressing trade and diplomacy challenges—particularly with India and China.

If Prime Minister Carney is serious about rebooting the Canadian economy, agri-food must be part of the conversation. But that means agriculture itself must step up. Industry voices across the country need to call on dairy to evolve, embrace change, and step into the 21st century.

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RONA expands Tilley Tuff Workwear with new women’s line and spring additions for men

By
Mario Toneguzzi
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RONA inc., one of Canada’s leading home improvement retailers operating and servicing some 425 corporate and affiliated stores, has announced the expansion of its exclusive Tilley Tuff workwear line.

The retailer said the extended assortment includes new men’s products for spring and, for the first time, a women’s collection.

These new offerings are now available in selected RONA+ and RONA stores, as well as online at rona.ca.

Founded in 1980, Tilley Endurables is globally renowned for its meticulously designed outdoor hats and apparel. With a focus on sustainable materials and a commitment to lifetime quality, Tilley products are essential for any adventure, said the company. 

Designed to meet the needs of today’s professionals

“Designed for Canadians facing the rigours of physical jobs and demanding environments, Tilley Tuff Workwear is priced to offer great value, with items starting at just $14.99. Focusing on durability, functionality, and the signature style Tilley Endurables is known for, the collection includes engineered apparel created with Tilley’s renowned attention to detail and commitment to high-quality materials,” said RONA in a news release.

Workwear now available for women working in construction and home improvement

Doug Young
Doug Young

“Whether they’re seasoned professionals or interior design enthusiasts, women in the construction and home improvement industry now have a destination of choice for comfortable and affordable clothing,” said RONA.

“Women play an important role in our industry, and we wanted to provide them options on what to wear on the worksite and offsite. Women are too often overlooked in the workwear category. Now, with Tilley Tuff, we offer them comfort, quality and great value. They can stock up on T-shirts, pants, jackets, long-sleeved work sweaters and shirts, all with a modern, professional look at RONA,” said Doug Young, Chief Merchandising Officer at RONA inc.

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RONA inc. is one of Canada’s leading home improvement retailers headquartered in Boucherville, Quebec. The RONA inc. network operates and services some 425 corporate and affiliated dealer stores under the RONA+, RONA, and Dick’s Lumber banners. With a long and rich history, RONA inc. supports Canadians in their home improvement and construction projects since 1939. To achieve this, the company relies on a team of 21,000 employees, to whom it strives to provide an inclusive workplace where everyone is invited to contribute. As a result of its ongoing efforts in sustainable development, the company is recognized as one of Canada’s Greenest Employers. To learn more about the company, visit the website www.ronainc.ca.

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CT REIT reports strong Q1 2025 results, increases monthly distributions by 2.5%—45.9% growth since IPO

By
Mario Toneguzzi
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Image: Canadian Tire

CT Real Estate Investment Trust reported on Monday its consolidated financial results for the first quarter ending March 31, 2025, announcing a distribution increase of 2.5%, which is a cumulative increase of 45.9% since initial public offering in 2013.

“Our performance this quarter, which delivered increases in Net Operating Income of 4.6% and Adjusted Funds From Operations per Unit of 3.9%, underscores our ability to deliver strong returns for our Unitholders and once again demonstrates our reliability, durability and growth potential in the face of ongoing macroeconomic challenges,” said Kevin Salsberg, President and Chief Executive Officer, CT REIT.

Kevin Salsberg
Kevin Salsberg

“I’m also particularly proud to announce that we will be increasing our monthly distributions for the 12th time, providing our Unitholders with a compound annual growth rate in distributions of 3.3% since our initial public offering.”

As a result of CT REIT’s consistent growth and reliability, the Board of Trustees has approved a 2.5% distribution increase that will be effective with the July 15 payment to Unitholders of record on June 30, 2025. Monthly distributions will increase to $0.07903 per Unit, or $0.94836 per Unit on an annualized basis and the REIT is pleased to have been able to reward Unitholders with such increases in each year since its initial public offering in 2013, said CT REIT in a news release.

CT REIT also entered into a ground lease with a third party to facilitate the development of a new Canadian Tire store in Kelowna, BC.

CT REIT is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of over 375 properties totalling more than 31 million square feet of GLA, consisting primarily of net lease single-tenant retail properties across Canada. Canadian Tire Corporation, Limited, is CT REIT’s most significant tenant. 

Financial Highlights

Net Income – Net income was $105.7 million for the quarter, an increase of $4.5 million, compared to the same period in the prior year, primarily due to higher revenues from the Property portfolio and increases in the fair value adjustment on investment properties, partially offset by higher interest and property expense.

Net Operating Income (NOI) – Total property revenue for the quarter was $150.4 million, which was $6.2 million or 4.3% higher compared to the same period in the prior year. In the first quarter, NOI was $118.7 million, which was $5.2 million or 4.6% higher compared to the same period in the prior year. This was primarily due to the acquisition, intensification and development of income-producing properties completed in 2024, which added $2.3 million, rent escalations from Canadian Tire leases, which contributed $1.9 million and development fee revenue, which also contributed $1.0 million.

Same store NOI was $114.0 million and same property NOI was $115.8 million for the quarter, which were $1.7 million or 1.5%, and $3.5 million or 3.1%, respectively, higher when compared to the prior year. Same store NOI increased primarily due to the increased revenue derived from contractual rent escalations and higher property operating recoveries. Same property NOI increased primarily due to the increase in same store NOI noted, as well as from the intensifications completed in 2024.

Funds from Operations (FFO) – FFO for the quarter was $81.1 million, which was $2.9 million or 3.7% higher than the same period in 2024, primarily due to the impact of NOI variances discussed earlier, partially offset by higher interest expense. FFO per unit – diluted (non-GAAP) for the quarter was $0.342, which was $0.011 or 3.3% higher, compared to the same period in 2024, due to the growth of FFO exceeding the growth in weighted average units outstanding – diluted (non-GAAP).

Adjusted Funds from Operations (AFFO) – AFFO for the quarter was $76.1 million, which was $3.4 million or 4.7% higher than the same period in 2024, primarily due to the impact of NOI variances discussed earlier, partially offset by higher interest expense. AFFO per unit – diluted (non-GAAP) for the quarter was $0.320, which was $0.012 or 3.9% higher, compared to the same period in 2024, due to the growth of AFFO exceeding the growth in weighted average units outstanding – diluted (non-GAAP).

Canadian Tire Corporation is CT REIT’s most significant tenant. As at March 31, 2025, CTC represented 92.8% of total GLA and 91.8% of annualized base minimum rent. As at March 31, 2025, CT REIT’s portfolio occupancy rate, on a committed basis, was 99.4%.

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Majority of North American consumers brace for long-term economic impact from tariffs, NielsenIQ study finds

By
Mario Toneguzzi
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Photo by Mario Toneguzzi
Photo by Mario Toneguzzi

As tariffs remain at the forefront of economic policy, data from the NielsenIQ (NIQ) recent North America Tariff Sentiment Study reveals that most consumers are bracing for a long-term economic hit.

NIQ surveyed nearly 10,000 consumers across the U.S. and Canada in late March and found that:

  • 61% of U.S. consumers and 86% of Canadians expect tariffs to negatively affect their country’s economy this year.
  • The top areas of concern are essential categories, such as fresh produce, eggs, and dairy.
  • Many consumers are adjusting their behavior—planning to dine out less, delay major purchases, or prioritize locally made products, especially in Canada.

The NielsenIQ study is the first in a four-part series tracking how consumer sentiment around tariffs evolves throughout 2025, providing timely insights as policy developments unfold.

“In the past year, tariffs have dominated the global conversation, even as consumers still face significant economic pressures. With a new US administration acting quickly on proposed tariffs, it’s critical to stay vigilant on consumer reaction to these shifts,” said the NielsenIQ report.

The report indicated that 87% of Canadians are not in favour of tariffs while that number is 50% for Americans.

When asked about the tariffs specifically, a majority of consumers in North America expect a negative impact on the economy throughout the rest of this year and continuing for the next three years.

Photo by Mario Toneguzzi
Photo by Mario Toneguzzi

61% expect a negative impact on the US economy the rest of this year; 33% extremely negative; 56% expect a negative impact on the US economy the over the next 3 years; 32% extremely negative

For Canada, it’s 86% expect negative impact this year, 79% negative impact next three years.

“Price concerns tied to tariffs are mainly on necessities across both USA and Canada Canadians more likely than Americans to buy domestic,” said the report. 

“Made in” labeling is almost 2x more likely to drive a change in purchase behavior for Canada compared to the USA.”

The Nielsen report said delayed purchases are much more likely than expedited purchases.

“Shoppers in both USA and Canada are between 4x and 5x as likely to delay major purchases, rather than complete them before price changes due to tariffs taking effect,” said Nielsen.

“Americans are overall favorable towards purchasing US made products and somewhat likely to buy Canadian made products; this is a significant difference vs sentiment among Canadians.”

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Canadian Retail News From Around The Web For May 5, 2025

By
Retail Insider
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Canadian Retail News From Around The Web

News at a Glance

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 three days.

Opinion: A safe harbour is needed for the Bay’s charter (Globe & Mail)

Walk down memory lane: Group of Alberta women remember the Bay as stores close nation-wide (CTV)

Assembly of First Nations joins calls for Hudson’s Bay to return ceremonial items (Ottawa Citizen)

Aritzia says no plan to raise prices as it adjusts to Trump tariffs (Financial Post)

Grocery-anchored centres feed investors’ appetite for retail assets (Western Investor)

David Olive: Higher prices and empty shelves: Why Trump’s tariffs will spark a summer of shortages for Canadians (Toronto Star)

Footwear company SoftMoc adopts AutoStore warehouse system for Ontario, Canada facility (Robotics and Automation News)

Why the sky high price of groceries may be starting to stabilize (CityNews)

Will condos ever create cool neighbourhoods? Why one developer sees a future that’s more Tokyo than Toronto (Toronto Star)

Montreal Ikea workers launch strike against Swedish retailer’s major store (Global)

Surrey Retail Complex Owned By Landmark Premiere And Cenyard Facing Foreclosure (Storeys)

Canada Gold Opens New Flagship Store in Vancouver (CTV)

Edmonton’s DON’YA Kitchen will be featured in Dragon’s Den (CityNews)

Winnipeg yarn store helping to bring iconic TV series Little House on the Prairie back to life (CBC)

Fashion Art Toronto x GotStyle 20 Year Anniversary & 1664 Fashion Week Opening Party hosted by The Distillery District (NOW Toronto)

Gloucester on Yonge in Toronto Adds Retail Tenants

By
Craig Patterson
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Gloucester on Yonge in Toronto. Image: Concord Adex

A prominent block on Toronto’s Yonge Street corridor is seeing a new wave of activity with the launch of Gloucester on Yonge, a mixed-use development by Concord Adex. Located at 591–597 Yonge Street, just steps from Wellesley subway station, the project combines ground-level retail, second-floor medical offices, and three luxury heritage townhomes.

The ground floor of Gloucester on Yonge features five retail units fronting Yonge Street. Two of the spaces have already been leased.

Sushi Kiwami at Gloucester on Yonge in Toronto. Image: Concord Adex

Sushi Kiwami, a renowned omakase restaurant brand established in 2017, has opened in Unit 1. With six locations, including the new Gloucester site, the brand brings an authentic Japanese dining experience to Toronto. Utensils, tableware, and other restaurant elements are sourced directly from Japan, while ingredients are flown in three times weekly from local Japanese fish markets. Sushi Kiwami’s chefs are veterans of Michelin-starred omakase restaurants in Japan, offering an elevated and authentic culinary experience for local diners.

Next door, GOA Hair Salon is expected to open in Unit 3 by Summer 2025.

Rendering of the soon-to-open GOA Hair Salon at Gloucester on Yonge in Toronto. Image: Concord Adex

Remaining units—Unit 2 (1,165 square feet), Unit 4 (2,371 square feet), and Unit 5 (2,388 square feet)—are available for lease. Ceiling heights reach up to 21 feet, and infrastructure supports kitchen exhaust and venting, allowing for food-service uses. The site also includes 120 secured underground commercial parking stalls, a rarity in the downtown core.

Gloucester on Yonge in Toronto. Image: Concord Adex

Medical Office Ownership Draws Professionals

Above the retail space, the Gloucester Medical Office Centre offers condominium ownership opportunities for medical professionals. Office units range from approximately 1,200 to 2,875 square feet, with ceiling heights up to 17 feet and high-spec features including fibre internet, HVAC, and Concord’s BioSpace air filtration system. The second floor has dedicated elevator access from Yonge Street and the underground garage, which includes 116 commercial parking stalls.

Located within walking distance of Toronto’s top hospitals—including Toronto General Hospital, Mount Sinai, SickKids, and Women’s College Hospital—the medical centre is well positioned to serve a large catchment of patients and healthcare workers.

Heritage Townhomes at Gloucester on Yonge in Toronto. Image: Concord Adex

Heritage Townhomes Blend Luxury with Live/Work Potential

Facing Gloucester Street, L’Héritage at Gloucester includes three fully restored heritage townhomes offering a rare luxury live/work format. Ranging from 2,770 to 3,600 square feet, the townhomes feature restored Renaissance Revival red-brick façades and modern interiors.

Each unit is designed to support both residential and professional uses and is being marketed toward entrepreneurs, designers, and families. The layout supports business operations on the lower level, with open-concept residential living above. Expansive windows provide ample natural light throughout, supporting a lifestyle that blends work and home in one of Toronto’s most connected neighbourhoods.

Gloucester on Yonge in Toronto. Image: Concord Adex

A Mixed-Use Vision from Concord Adex

The Gloucester on Yonge development is part of Concord Adex’s broader mission to deliver future-proof, mixed-use communities in Canada’s major urban centres. With more than 40,000 homes built globally and nearly 150 towers, Concord continues to lead in integrating residential, retail, and commercial uses with sustainability and technology at the forefront.

As part of this commitment, Concord’s buildings feature smart systems, high-speed EV infrastructure, and energy-efficient design. The company’s Concord Green Energy division operates wind, solar, and hydroelectric projects across Canada—offsetting energy usage in its buildings many times over.

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