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General Products Patio Furniture Closing After 47 Years

General Products Outdoor Patio Furniture in Richmond Hill. Image: Google Maps

After nearly five decades as one of Ontario’s most respected names in outdoor furnishings, General Products Outdoor Patio Furniture (GP Patio) is winding down operations with a significant public liquidation sale. The Richmond Hill-based retailer, located at 160 East Beaver Creek Road, is closing its doors following the retirement of the founding Brown family, who have led the business since its establishment in 1979.

Founded by Sydney Brown, General Products became a trusted resource for high-quality, stylish, and durable outdoor furniture—serving both residential customers and commercial clients. The company earned a reputation for excellence, furnishing patios for high-profile clients including Prime Ministers, Premiers, celebrities, and major hospitality operators. Their clientele also included families across Ontario, many of whom have remained loyal for generations.

“It was incredibly special and fortunate to work alongside my father until his passing in 2017,” said Stuart Brown, the second-generation owner of the business. “Three generations of Browns have proudly contributed to this business, and it’s been an honour to serve Canadians.”

The family-run business became synonymous with customer service and quality, offering premium patio furniture collections sourced directly from top manufacturers. The retailer was featured nationally, with appearances on HGTV and Mike Holmes’ Ultimate Deck, reinforcing its reputation for expertise and thoughtful design.

General Products store in Richmond Hill. Image: Brad Poechman via Google Maps

Store Closing Sale Begins March 29

To mark the conclusion of nearly half a century in business, GP Patio is hosting a store-wide closing liquidation sale, offering significant discounts on its complete inventory. The sale—managed by Danbury Global—officially begins on Thursday, March 29, and is open to the public.

Shoppers will find steep markdowns on the retailer’s full selection of high-end outdoor furniture, including patio loungers ideal for summer relaxation, elegant dining sets built to withstand Canadian weather, and stylish umbrellas that combine function with aesthetic appeal. The sale also features fire tables designed to extend outdoor enjoyment into cooler evenings, as well as an array of carefully curated outdoor accessories and décor items.

The entire inventory of premium outdoor products is being sold at reduced prices as part of the closure. According to the company, delivery will continue to be available across the Greater Toronto Area and into cottage country, ensuring convenience for long-time and new customers alike.

“For over 47 years, we’ve had the privilege of serving a loyal customer base that spans generations,” said Stuart and Wendy Brown in a joint statement. “As we retire, we invite the public to celebrate with us during this once-in-a-lifetime sale.”

Danbury Global Manages High-Profile Liquidation

To oversee the sale, GP Patio has engaged Danbury Global, a leading Canadian asset disposition and retail liquidation firm. The company is known for managing major transitions for well-known retail brands and has brought its experience to the Richmond Hill showroom to ensure a smooth and successful wind-down.

“This is truly a rare opportunity,” said Jonathan Ordon, CEO of Danbury Global. “You don’t often see premium, brand-name outdoor living furniture being liquidated to the public—especially at the start of patio season. This sale is an unmatched chance to furnish your outdoor space with quality pieces at a fraction of the cost.”

Danbury Global’s store closing liquidation sale kicks off Thursday, March 29, from the 160 East Beaver Creek Road showroom, and will run seven days a week until all inventory is sold.

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From rooftop greenhouse to store in an hour: Walmart Canada and Lufa Farms launch local produce collaboration in Montreal

Walmart Canada and Lufa Farms launch local produce collaboration in Montreal (CNW Group/Wal-Mart Canada Corp.)

Walmart Canada and Lufa Farms are now selling hyperlocal produce from Lufa Farms’ 127,000 square-foot hydroponic greenhouse atop the Marché Central Walmart Supercentre in the store below.

This marks the first time produce from Montreal’s Lufa Farms will be sold through a retailer and the first time Walmart Canada will sell produce from a store’s rooftop greenhouse. Harvested on demand each morning, the rotating crops of tomatoes, cucumbers and bell peppers will be available for sale in-store in as fast as an hour after being picked, said the retailer.

“Rooftops are one of the most underused spaces in cities – and yet they’re perfect for growing food,” said Mohamed Hage, founder and CEO of Lufa Farms. “Walmart has a huge network of rooftops across the country, and by transforming just one of them into a greenhouse, we’re showing what’s possible: fresh, local vegetables grown sustainably and sold just downstairs, the same day they’re harvested. This is how we can reimagine the future of food in cities.”

The project is rooted in Lufa Farms’ commitment to fresh, local, responsible farming and Walmart Canada’s continued focus on working with local suppliers to deliver innovative and more sustainable options for customers. According to Lufa Farms, their state-of-the-art rooftop greenhouse uses half the energy of a conventional ground-level greenhouse, recycles up to 90 per cent of its water, and relies on energy-efficient LED lighting – all while making use of underutilized urban space.

Customers in Walmart’s Marché Central Supercentre can now purchase boxes of this rooftop produce grown and harvested by Lufa Farms each day, while quantities last.

Walmart Canada and Lufa Farms launch local produce collaboration in Montreal (CNW Group/Wal-Mart Canada Corp.)

“Across the country, we’re proud to work with local farmers and producers to bring their products to Walmart Canada’s shelves. This collaboration with Lufa Farms brings that approach even closer to home by offering our customers the opportunity to purchase hyperlocal produce grown in the greenhouse above our Marché Central store,” said Sam Wankowski, chief merchandising officer, Walmart Canada. “Our customers will be delighted by the local crops that are grown with more sustainable farming practices and then harvested on-demand each day – available at our every day low prices.”

“We are invested in Quebec and are proud to employ more than 14,000 associates across this province. Last year alone, Walmart purchased more than $3.8 billion worth of products from more than 460 Quebec suppliers, and we’re excited to add Lufa Farms to this list,” said Cyrille Ballereau, vice president, operations, Walmart Canada. “It’s a proud moment to see us collaborating so closely with another local Quebec supplier to bring this innovative program to market.”

Walmart has more than 400 stores nationwide serving 1.5 million customers each day.

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MINISO opens its first outdoor street-front store in Ontario at CF Don Mills (Photos)

MINISO's New Store in CF Don Mills, Toronto, Ontario

Global lifestyle brand MINISO has opened its new store at CF Don Mills, marking a significant expansion of its presence in Ontario.

“This location stands out as the first plaza store and outdoor street shop for MINISO in the province. Situated within an upscale community shopping center at 28 Karl Fraser Rd, North York . . . this opening represents not just an increase in MINISO’s store count but also a pivotal step towards diversifying the retail experience and deepening local engagement,” said the retailer in a news release.

Creating an Immersive New Retail Experience that Blends Shopping and Play

“Spanning over 4,000 square feet, the Don Mills store is designed to offer a unique shopping experience that transcends traditional retail boundaries. The store features a diverse product selection, including popular categories like plush toys, blind boxes and more than 20 trending makeup and skincare brands celebrated for offering quality and style at accessible prices.

“Notably, by integrating entertainment and leisure elements into its layout, this location embodies MINISO’s “Joy Philosophy.” The immersive environment encourages social interaction while shopping. Among its many features is a dedicated area for claw machines that combines fun with consumerism, creating an engaging “shop-and-play” atmosphere.”

Grand Opening of the Store

This new location marks MINISO’s first-ever store in Canada to offer an ice cream section, enhancing lifestyle consumption by providing customers with a comprehensive one-stop experience encompassing shopping, playtime activities, and refreshment options.

“During the grand opening, MINISO debuted its latest vinyl plush blind box collection, which quickly became a standout success, with over one hundred units sold in a short period. Beloved Disney characters such as Stitch and Winnie-the-Pooh emerged as fan favorites, drawing significant attention from shoppers and collectors alike. Excitement will continue to build as the new Stitch series is set to launch across all MINISO stores in Canada by the end of May, positioning these locations as must-visit destinations for dedicated fans of the iconic blue alien,” said the company.

Expanding a Global Retail Vision that Blends Lifestyle, Design, and Fun

The CF Shops at Don Mills serves as Toronto’s renowned high-end outdoor shopping destination that seamlessly blends boutique retailing with fine dining and recreational entertainment options. Its open-air design reflects modern lifestyle trends while establishing itself as a new urban landmark, a perfect match for MINISO’s youthful and playful brand identity. Looking ahead, plans are already underway for additional stores across Toronto and Edmonton to further solidify MINISO’s footprint in Canada’s dynamic market landscape, explained the retailer.

“As of March 2025, MINISO has successfully entered over 100 global markets with more than 7,400 stores worldwide, including over 370 locations across North America alone. The mission of the company emphasizes that “Life is for fun,” while aspiring to become the world’s leading IP design retail group through continuous focus on affordability, globalization efforts, and innovative product designs (IP Design). With these principles guiding operations globally, consumers everywhere can expect enhanced daily living experiences through engaging products offered by MINISO.”

Dedicated Area for Claw Machines in the Store

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MINISO’s Vinly Plush Blind Boxes Collection

Element by Westin Calgary Downtown hotel set to open early summer

Source: PBA Group of Companies
Source: PBA Group of Companies

The Element by Westin Calgary Downtown hotel will open in the city’s west end early this summer, showcasing the first hospitality conversion of former office space.

The building, which was formerly Canadian Centre, has transformed 170,000 square feet of underutilized office space on 4th Avenue SW into a modern, eco-friendly hotel featuring 226 spacious suites.

Officials say the conversion is a key cornerstone of the City of Calgary’s Downtown Development Incentive Program, in partnership with PBA Group of Companies and Concord Hospitality.

The project is designed to meet the growing demand for hotel accommodation and stimulate economic activity in Calgary’s downtown core, they say.

Patricia Phillips
Patricia Phillips

“As Calgary’s first hospitality conversion, the Element embodies the spirit of transforming existing spaces to serve new, meaningful purposes,” said Patricia Phillips, CEO of PBA Group of Companies. “Revitalizing urban areas and embracing sustainable design features are both critical to reinforcing the strength and adaptability of Calgary’s downtown. As an award-winning hotel developer and longstanding member of the community for over 60 years, PBA is proud to support progressive urban development through this innovative project.”

The hotel will be a unique offering for guests looking to stay in downtown Calgary, with spacious suites featuring fully equipped kitchens, It will also provide bicycles for guests to use and is in a walkable location next to the Bow River.

Next to the lobby, guests will also find the gym, a bright space with tall ceilings and ample cardio equipment, weights and floor space. Each guest floor of The Element Calgary Downtown has a filtered water station next to the ice machine, and each room has refillable glass bottles, effectively eliminating plastic water bottle waste.

Tim Ostrem
Tim Ostrem

“Bringing a refreshed and exciting new offering to Calgary’s Downtown West neighbourhood has been an incredibly rewarding experience—one that’s only just beginning,” said General Manager of The Element by Westin Downtown Calgary, Tim Ostrem. “We look forward to introducing the Element brand to Calgarians as the ideal place to stay and relax with many wellness features, and as a place they can confidently recommend to friends and visitors.”

“The Element Calgary Downtown’s Studio Commons features four private bedrooms, all connected to a shared main space making it an ideal option for travelling families, wedding parties and small corporate or social groups. The hotel offers suites with fully equipped in-room kitchens, allowing for the comforts of home-cooked and healthy meals while away from home,” said the company.

Source: PBA Group of Companies
Source: PBA Group of Companies

Wander Coffee & Cocktails, located directly beside the hotel lobby, will be a bright and airy cafe space on street level with plenty of outdoor patio space. The café  will be open to both hotel guests and the public.

 The rooftop level of the Element will also be home to the newest west end restaurant, bar and patio lighting up Calgary’s dining scene – Bow & Bend. Located high above the Bow River on the 12th floor, Bow & Bend will be an inviting social and dining experience with a view for Calgarians and hotel guests alike. The space will seat 150 guests, with indoor open-air seating, outdoor patio and private dining room options.

PBA Group of Companies is a full-spectrum real estate company based in Calgary, providing integrated commercial real estate solutions for the past 60 years. In 2021, PBA expanded its offerings by introducing a hospitality portfolio with the unveiling of The Dorian, a $115 million, 27-storey, dual-brand Marriott Autograph Collection and Courtyard Marriott hotel.

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Canadian Retail News From Around The Web For May 29, 2025

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 48 hours.

After the Bay, what is the future for malls in Canada? (StarMedia)

71% of Canadians buying fewer U.S. grocery products: Survey (Grocery Business)

Quebec’s June 1 deadline for French signage, labelling is ‘unrealistic’ for retailers, business groups say (CityNews)

Want to buy a mannequin? Kelowna’s Hudson Bay hollowed out with closure days away – Kelowna News

Costco plans new business centre in Mississauga, Ont. (Grocery Business)

Emotional rally supports remaining Windsor Hudson’s Bay workers before store shutters (Windsor Star)

Epicurious: Fresh food finds a home in remote Gold Bridge General Store (The Spec)

Charlottetown Walmart celebrates grand reopening after renovations (Grocery Business)

Massive new Toronto record fair plans to unite Gen Z and boomers through music (Streets of Toronto)

Toronto’s Better™ Gift Shop Unveils Nike Air Max Dn8 Collab (House of Heat)

N.S. brothers ‘opening the eyes’ of many to Lebanese culture 1 Shawarma at a time (Global)

Academy Road retailer joins move online from brick, mortar (Winnipeg Free Press)

Toronto Hyundai and Genesis Yorkdale: a new era of automotive excellence begins (Yahoo)

Iconic brunch brand Mildred’s in Toronto launches its signature Wild Blueberry Compote in select retailers

With a reputation for serving up the best pancakes on the planet, iconic Toronto brunch spot Mildred’s announced Wednesday the expansion of its in-house Pantry brand into Ontario grocery boutiques.

Following last year’s retail debut of its best-selling Buttermilk Pancake Dry Mix, the companion favourite—Mildred’s Wild Blueberry Compote—is now available at select retailers, including all Summerhill Market locations and gourmet European deli Denninger’s.

“Although the restaurant industry suffered immensely during the pandemic, one of the silver linings for us was the demand for our pancakes with all the fixings as an essential that customers could make fresh at home. We recognized the enormous support and success from our loyal customers who are purchasing our
Pantry collection in-house and through our online store, and we saw an opportunity to bring our best-
selling products one step closer to consumers through their favourite local shops,” said Donna Dooher, Executive Chef and Owner of Mildred’s Temple Kitchen.

Donna Dooher
Donna Dooher

Featured on Mildred’s menu for over 35 years, the compote is also available for purchase, along with
a collection of make-at-home brunch items, at the restaurant in Liberty Village and online with
Canada-wide shipping through Mildred’s Pantry.

Through a partnership with food distributor Salt Gourmet, the Mildred’s Pantry collection is expanding to local Ontario stockists, with plans to introduce additional flagship products including its Lanark County-sourced maple syrup and select preserves,” explained the company.

“Handcrafted in small batches with 100% Canadian wild blueberries, Mildred’s Wild Blueberry Compote
is bursting with vibrant flavour and just the right balance of sweet and tart. A pantry staple, it’s a
natural match for pancakes, biscuits, and scones—but equally delightful spooned over yogurt, tucked
into a tart, or eaten straight from the jar. Priced at $13.50 for 250 ml, this multi-purpose treat is a must-
have for weekend mornings, holiday brunches, and everything in between.”

With plans for national grocery expansion and a 2026 cookbook release, Mildred’s aims to bring its
beloved brunch menu into the homes and kitchens of brunch aficionados—continuing to share the
brand mantra: Pancakes Make People Happy, it said.


Mildred’s opened in 2009 with a heartfelt philosophy: a love of food, people, and the simple pleasures
of life. Nestled in the heart of Toronto’s Liberty Village, Mildred’s reflects a commitment to locally
sourced, seasonal ingredients—simply and sumptuously prepared. Dooher was the founder of Mildred Pierce restaurant, host of Food Network’s The Cookworks, and co-author of the award-winning cookbooks Out to Brunch and Market to Table. Mildred’s Pantry offers Canada-wide shipping on its dry goods and local GTA delivery on frozen menu items.

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The Playbook Commons, vibrant new dining destination to open at Hotel X Toronto (Photos)

nterior Photo of The Playbook Commons; Photo Credit Daniel Neuhaus
Interior Photo of The Playbook Commons; Photo Credit Daniel Neuhaus

The Playbook Commons is a new 180-seat culinary destination and sports theatre located on the ground floor of Hotel X (111 Princes’ Blvd) in Toronto. Blending the energy of a classic steakhouse and the comfort of Italian-American dining, The Playbook Commons is the city’s newest must-visit venue. It opens Thursday May 29.
 
Brought to life by Harlo Entertainment, the team behind beloved establishments like Kasa Moto, Roses and Valerie, The Playbook Commons said it strikes a perfect balance between sophistication and approachability. Reimagining the sports-viewing experience, the restaurant blends elevated dining with spirited camaraderie—serving timeless dishes and drinks while screening games, races and more. With a great view from every seat in the house, each guest will enjoy an immersive viewing experience as they dine.

Led by Culinary Director and Head Chef Jia Zou—whose résumé includes celebrated kitchens like Kasa Moto, Roses Social, and Valerie – The Playbook Commons menu pays homage to the heart of Italian steakhouses. Featuring handcrafted pastas, premium seafood and high-grade steaks, each dish is thoughtfully prepared, said the company.

Dishes at The Playbook Commons; Photo Credit Daniel Neuhaus
Dishes at The Playbook Commons; Photo Credit Daniel Neuhaus

Among the standout offerings, the Bone In Filet, Branzino Crudo, Spicy Vodka Rigatoni, Truffle Tagliatelle, New Zealand Lamb Chops and Sword Fish Meuniere deliver bold flavours and an unforgettable dining experience, it said.

“We focus on fresh, quality ingredients and traditional techniques, with a bit of fun in the mix,” says Jia Zou.”Our goal is simple — to serve food that brings people together. Whether it’s a casual bite or a special night out, we want guests to enjoy the experience and feel at home.”

“Guests can also enjoy expertly crafted cocktails, fine wines, premium beers and signature pours that embody the craftsmanship and sophistication of the bar. From time-honoured classics to innovative house creations, each drink is designed to enhance every moment,” it said.

“The design-forward restaurant will also exclusively exhibit Ryan Koopmans and Alice Wexell’s latest digital artwork series ‘The Wild Within’ in Toronto. Exploring the theme of architectural history and its intricate relationship with the natural world, the artists bring new life into abandoned buildings through digital techniques and movement that create a sense of wonderment and tranquility.”

Interior Photo of The Playbook Commons; Photo Credit Daniel Neuhaus
Interior Photo of The Playbook Commons; Photo Credit Daniel Neuhaus

For those looking to host private events, The Playbook Commons features multiple private hosting spaces including The Garden Bar and The Lounge, as well as full buyout options. The establishment can host intimate gatherings, lively celebrations and corporate events.

Founded in 2018, Harlo Entertainment is a division of Harlo Group, that owns, operates and invests in properties in the hospitality, entertainment, lifestyle, and technology industries.

“Taking a value-oriented approach to entrepreneurship and at the forefront of creating, innovating, and operating the most successful restaurant, nightclub and hospitality venues across North America, Harlo has a strong pulse on changing consumer preferences and focuses on bringing the modern metropolitan client an unrivalled experience. With a clear focus on operational and strategic optimization to drive performance and growth, the success is driven by four pillars; People, Disruption, Synergy, and Value Adds. Notable properties include Kasa Moto, Valerie, Roses Social, and Shake Shack Canada,” it said.

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Interior Photo of The Playbook Commons; Photo Credit Daniel Neuhaus
Interior Photo of The Playbook Commons; Photo Credit Daniel Neuhaus
Features and Cocktails at The Playbook Commons; Photo Credit Daniel Neuhaus
Features and Cocktails at The Playbook Commons; Photo Credit Daniel Neuhaus
Signature Cocktails at The Playbook Commons; Photo Credit Daniel Neuhaus
Signature Cocktails at The Playbook Commons; Photo Credit Daniel Neuhaus

KAYAK and Affirm partner into Canada

Photo by Adi K
Photo by Adi K

KAYAK, the world’s leading travel search engine, and Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, have announced the expansion of their exclusive partnership into Canada.

This builds on the companies’ successful collaboration in the U.S., which has empowered consumers to plan and pay over time for their travels since January 2023, according to a news release. 

By selecting Affirm at checkout on ca.KAYAK.com, approved KAYAK travellers in Canada can split the total cost of flights, accommodations, and car rentals/sharing into monthly payments.  From there, consumers go through a quick, real-time eligibility check. If approved, they can choose the customized payment plan that best suits their needs and never pay any late or hidden fees, it said.

Wayne Pommen
Wayne Pommen

“Consumers are increasingly turning to Affirm when booking their flights, hotels, rides, and more as flexible payment options remain a top priority for travellers across Canada,” said Wayne Pommen, Chief Revenue Officer of Affirm. “This expansion with KAYAK is a natural next step for our long-standing partnership as we look to offer even more travellers peace of mind when paying for their next trip using Affirm.”

Paul Jacobs
Paul Jacobs

“Our partnership with Affirm opens up possibilities for travellers who are looking for more flexibility in their payment options. With international flight prices averaging $1,270, travellers can plan and pay for those bucket list trips over time, without any hidden fees,” said Paul Jacobs, GM and SVP of KAYAK North America.

Expanding with KAYAK into Canada further builds on Affirm’s rapid growth worldwide, with over 350,000 merchants offering it at checkout, including partnerships with Booking Holdings brands Agoda, Booking.com, and Priceline. Leading Canadian retailers, including Amazon, Apple, Samsung, Brown’s Shoes, CheapOair, and more offer Affirm’s payment solutions to their customers, said the press release.

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WINNERS and HomeSense under one roof at Edmonton’s Skyview Power Centre

(PHOTO: WINNERS.CA)

WINNERS and HomeSense, Canada’s top off-price retailers, are set to open a new combo store at Skyview Power Centre in Edmonton on Monday, June 2 at 9 a.m.

Previously a standalone WINNERS store, the new combo store will be located at 13546 – 137 Avenue N.W., span more than 43,000 square feet and offer a never ending assortment of brand-name fashion and stylish home décor at exceptional savings. 

Parul Bharadia
Parul Bharadia

“We’re excited to open a combo store in Edmonton and look forward to welcoming shoppers to our newest renovated location,” said Parul Bharadia, HomeSense. “Whether you’re updating your closet, redecorating your space, stocking up on beauty staples, or just browsing, this store has something for everyone at incredible prices.” 

With the opening of the Skyview store, Edmonton is now home to 15 WINNERS and eight HomeSense locations. Regular store hours will be 9 a.m. to 9 p.m., seven days a week.

“Designed with convenience in mind, the store layout makes it easy for shoppers to explore and enjoy a seamless experience from start to finish,” said the company.

With more than 160 HomeSense stores and over 300 WINNERS locations across Canada, both brands leverage their significant buying power and strong vendor relationships to offer high-quality, brand-name merchandise at unbeatable prices. With fresh arrivals daily, customers can always discover something new, ensuring that no two shopping experiences at WINNERS and HomeSense are ever the same, said the company.

The TJX Companies, Inc., a Fortune 100 company, is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide.

“Our mission is to deliver great value to customers every day. We do this by offering a rapidly changing assortment of quality, fashionable, brand name, and designer merchandise at prices generally 20 per cent to 60 per cent below full-price retailers’ regular prices on comparable merchandise. We operate over 4,900 stores across nine countries, including TJ Maxx, Marshalls, HomeGoods, Homesense, and Sierra, in the U.S.; Winners, HomeSense, and Marshalls in Canada; TK Maxx and Homesense in Europe, and TK Maxx in Australia. We also operate e-commerce sites for TJ Maxx, Marshalls, and Sierra in the U.S. and three sites for TK Maxx in Europe. Our value mission extends to our corporate responsibility efforts, which are focused on supporting our associates, giving back in the communities we serve, the environment, and operating ethically,” said the company. 

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‘Positive turnaround year’ for DAVIDsTEA in Fiscal 2024

(Image: DAVIDsTEA)

DAVIDsTEA Inc., a leading tea merchant in North America, announced Wednesday its fourth quarter and full-year results for the period ended February 1, 2025, with year-over-year sales growth.

“Fiscal 2024 proved to be a positive turnaround year for DAVIDsTEA, marked by incremental sales growth, gross profit improvement and positive cash flow from operations,” said Sarah Segal, Chief Executive Officer and Chief Brand Officer, DAVIDsTEA. “These encouraging results reflect the disciplined execution of our omnichannel growth strategy by bringing our brand closer to consumers through the opening of two new retail stores and its spillover effect on wholesale and e-commerce sales. These results also confirm that our premium specialty teas remain a comforting purchase despite an unpredictable economic landscape.

Sarah Segal

“Demand for healthy tea and matcha products continues to expand globally. With a constant focus on being responsive to our customers, our results validate that moving fulfillment services in-house more than a year ago and transitioning to a more agile, cost-effective IT platform in recent months will positively affect the Company’s operations for years to come. We are pleased with the progress across our omnichannel business towards profitability, stabilizing the business and preparing for the next phase of growth.

“In the fourth quarter, brick-and-mortar revenues were stable year-over-year despite one less week of sales than the fourth quarter of 2023. For their part, wholesale and e-commerce revenues slightly declined mainly due to the shorter selling season and a strike at Canada Post, respectively. The highlight of the quarter was unquestionably our return to profitability with net income of $2.5 million. We are proud of reaching this latest milestone and are determined to drive profitable growth in 2025 and beyond.

“Looking ahead to the next three-year cycle, we intend to generate a sales compound annual growth rate between 10 and 12% on the strength of growing our number of Canadian retail stores, accelerating wholesale expansion in the U.S., and enhancing our online presence. We also plan to raise our gross profit margin to 48-50% on a sustained basis by taking advantage of our in-house fulfillment capabilities, focusing on innovation and differentiated product pipeline, and better absorbing our fixed costs on higher sales volume. Finally, we expect to leverage annual cost savings of $4 million from the end of the third quarter of 2024 through the shift to our newly deployed IT platform and tight control on discretionary spending. As a result, we believe that we can achieve an adjusted EBITDA margin in the low double digits by the end of fiscal 2027 from mid-single digits in 2024.”

DAVIDsTEA offers a specialty branded selection of high-quality proprietary loose-leaf teas, pre-packaged teas, tea sachets, tea-related accessories and gifts through its e-commerce platform at www.davidstea.com  and the Amazon Marketplace, its wholesale customers which include over 4,000 grocery stores and pharmacies, over 1,500 convenience stores in Canada and over 900 grocery stores in the United States, as well as 20 company-owned stores across Canada. It offers primarily proprietary tea blends that are exclusive to the company, as well as traditional single-origin teas and herbs. The company is headquartered in Montréal.

Frank Zitella
Frank Zitella

“We are entering fiscal 2025 in a far better position than last year, notwithstanding an uncertain trade environment,” said Frank Zitella, President, Chief Financial and Operating Officer, DAVIDsTEA.

“Key building blocks are in place to bolster sales growth; our brick-and-mortar, wholesale and e-commerce businesses are supported by strong unit economics; and we have added financial flexibility with a cash position of $16.2 million at the end of the fiscal year.

“The threat of U.S. tariffs remains a concern particularly the related impact on the Canadian economy; however, due to many years of diversifying our supply chains, we have demonstrated resilience in mitigating the direct impact to our business. It should also be noted that DAVIDsTEA has limited exposure to sales south of the border, which accounted for 14.3% of total revenue in 2024.”

Fiscal 2024
➢ Sales reached $61.8 million, up 2% year-over-year
➢ Net loss narrows to $3.2 million, a $10.6 million improvement
➢ Adjusted EBITDA turned positive at $3.9 million, up $9.3 million
➢ Free cash flow of $7.3 million with year cash of $16.2


Q4 2024
➢ Sales of $23.2 million
➢ Net income of $2.5 million, up $6.4 million, despite lower revenue
➢ Adjusted EBITDA of $4.0 million, a $3.5 million improvement

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