Image Credit: Ben Rahn/A-Frame [www.aframestudio.com] (CNW Group/Reitmans (Canada) Ltd)
As part of its 100th anniversary, Reitmans said Thursday it is stepping into its next chapter with the unveiling of a new logo and reimagined store concept at Carrefour Laval, located in the Greater Montreal area, about 20 kilometres from downtown Montreal.
More than a renovation, this reopening reflects an evolution of the in-store experience with an approach that further affirms the brand’s renewed identity, said the retailer.
Isabelle Bonin
This unveiling marks the first public appearance of Reitmans’ new logo, reflecting a more confident identity and a forward-looking perspective. This visual evolution is part of the broader momentum the brand is building as it enters its centennial year. Designed by award-winning interior design studio, BURDIFILEK, as a structured and intentional space, the new concept is grounded in a thoughtfully planned layout and natural flow, offering a refreshed perspective on the shopping experience, said the company in a news release.
Reitmans logo
“This initiative reflects a natural evolution for Reitmans. We wanted to create a clear and intuitive environment that better showcases our collections and reflects our current fashion sensibility,” said Isabelle Bonin, Vice President, Marketing, eCommerce and Visual Presentation at Reitmans. “It’s an experience designed to better support our customers and strengthen their connection to the brand.”
Image Credit: Ben Rahn/A-Frame [www.aframestudio.com] (CNW Group/Reitmans (Canada) Ltd)
The store features a warm and refined aesthetic with open layouts, carefully considered lighting, rich textures, and a clean palette. By focusing on what matters most, the space strikes a balance between clarity and emotion by creating a harmonious experience where fashion takes centre stage, said the brand.
“Reitmans has a long-standing legacy. Our goal was to not reinvent it, but to reinterpret it. We highlighted the familiarity of the brand within a confident setting that will resonate across Canada,” said Diego Burdi, Co-Founder and Creative Director, BURDIFILEK.
Paul Filek
“In an era of rapid retail change, the forces at work are both global and local. Our partnership with Reitmans reaffirms design as an investment in business strategy for evolving legacy brands and secures its longevity in a demanding market,” said Paul Filek, Co-Founder and Managing Partner, BURDIFILEK.
Reitmans said it also collaborated with Montreal-based artist Miville and will be featuring one of her original pieces in the space to introduce an artistic dimension that connects fashion, design, and expression.
“With this new concept, Reitmans is setting a clearer and more ambitious direction that is aligned with the initiatives launched as part of its centennial. This evolution reflects a stronger point of view on style, expression, and customer experience while remaining true to the brand’s core, said the company.
Launched at Carrefour Laval on April 18, this concept paves the way for a rollout across Canada beginning in 2027, it said.
The brand operates more than 200 stores across the country.
Image Credit: Ben Rahn/A-Frame [www.aframestudio.com] (CNW Group/Reitmans (Canada) Ltd)
They said the MOU establishes a framework for collaboration across key areas including stakeholder engagement, participation in industry forums, and joint efforts to foster sustainable opportunities and build sector resilience in the face of emerging challenges. These priorities reflect a shared understanding that domestic and international tourism growth depends on strong, ongoing coordination between government and industry stakeholders.
Parks Canada and TIAC said they will work to advance a strong, competitive and sustainable sector that contributes to Canada’s economic prosperity and environmental stewardship.
Parks Canada is one of Canada’s leading tourism experience providers, welcoming approximately 24 million visitors every year to some of the world’s most iconic natural and cultural heritage destinations. Visitors to Parks Canada administered places help generate $4 billion to the national GDP and spend the equivalent of more than $11 million every day in communities across the country.
With 171 national historic sites, 48 national parks, five national marine conservation areas and one national urban park, Parks Canada’s vast reach provides services in over 200 locations across Canada, in every province and territory, rural, urban and northern.
“The renewed Memorandum of Understanding with the Tourism Industry Association of Canada reflects our shared commitment to strengthening Canada’s visitor economy while protecting the natural and cultural treasures that define our country. By continuing to work together, Parks Canada and TIAC will support sustainable tourism that benefits communities, enhances visitor experiences, and ensures these special places are protected for future generations,” said Andrew Campbell,Interim President & Chief Executive Officer, Parks Canada.
“Working closely with Parks Canada helps TIAC deliver real value for Canada’s tourism sector. This MOU gives us a stronger foundation to tackle shared challenges, open up new opportunities, and make sure tourism continues to support jobs, businesses, and communities across the country. A more united sector is not only good for tourism, it is good for Canada,” said Sébastien Benedict, President & Chief Executive Officer, Tourism Industry Association of Canada.
With fuel disruptions across Asia sending ripple effects through global supply chains, Canadians may be having a sense of déjà vu. But would today’s disruptions lead to the kind of shortages we saw in the early days of COVID-19?
Vinayak Madappa, Retail Advisory Partner at Capgemini, who has spent the last several years working with retailers on post-COVID supply chains, says that’s not likely – and that the pandemic may have actually left Canadian consumers better insulated than they realize.
“The biggest shift is in how retailers think about safety stock. Before COVID, the industry ran lean as a result of focus on free cash flow and lower inventory holding on the assumption that efficiency and resilience were the same thing, and 2020 proved they are not. Most retailers have not gone back to that position, and we are now seeing “just in case” inventory vs “just in time” inventory as a standard buffer,” he said.
“Transportation impacts as an example from Red Sea adds 10+ days to delivery windows leading to impact on shelf availability. Sourcing and supplier diversification is no longer an option and is mandatory. This was dominated by cost and margin pressures. The other factor is that COVID was a different kind of shock: it hit demand, operations, and logistics all at once, whereas what we are seeing now is primarily fuel-driven and narrower in scope, which means the system is being stressed but not overwhelmed. The response to this was shifting to multi country / region (LATAM/Eastern Europe) sourcing and dual sourcing at SKU level is a new BAU (Business as Usual) for retailers making supply chain resilient by reducing lead times, derisked transportation (Red Sea impact).
Vinayak Madappa
“Lastly, contractual structures have changed with suppliers agreeing to alternative routes, multiple ports of entry and allows for better control tower visibility in the supply chain ecosystem.”
Where are the pressure points right now?
Madappa said the categories that warrant the closest attention are textiles and apparel, technology and electronics, and anything with deep sourcing dependency on Asia.
“These are where the second-order effects of fuel disruption land hardest, through higher diesel costs flowing into fertilizer, farm machinery, and manufacturing inputs, which simultaneously drives up costs,” he explained.
“On a secondary level, while Canada is a major producer in agriculture, we are dependent heavily for foreign processing leading to impact on packaged goods, frozen food and other on the shelf staples which are impacted by both price increases as well as delays in logistics.
“Hospitality and travel-adjacent retail are also worth watching, because ticket prices to Asia are already up significantly and disrupted routes are changing how Canadians plan and spend. For retailers with heavy private label programs sourced in those regions, the six-to-eight month window is when commodity and yield pressures are likely to show up in replenishment costs.”
Are current inventory levels enough of a buffer?
For retailers that made the shift from weeks to months of safety inventory, they’ve bought significant time before disruptions become visible to shoppers, noted Madappa.
“For most retailers, the current inventory buffers for essential and core SKU’s is in the range of 8-12 weeks of protection which limits availability exposure. The risk is that not every retailer made that transition across all categories, so there will be pockets of exposure even within otherwise well-managed businesses. If this disruption is not resolved within six to eight months, that is when on-shelf availability starts to become a genuine concern in Asia-dependent categories,” he said.
“What consumers are already feeling, though, is price, because fuel is a global commodity and that pressure does not wait for inventory buffers to run down. The buffer protects availability, not cost.”
Craig Adderley photo
Diversification and nearshoring being tested
Madappa said diversification and nearshoring are being tested, and for the most part the ones that were executed well are holding up.
“Canada’s trade relationships are more diversified than they sometimes get credit for, with backup suppliers for technology components spread across Latin America, and strong food and everyday goods ties to Australia, New Zealand, and CUSMA partners like Mexico and the US.
“Textiles follow a similar pattern, where dependency tends to be concentrated in raw materials rather than finished goods, and many Canadian brands have retained domestic finishing and production capacity.”
Where will consumers feel the impact?
Madappa said consumers are already feeling the impact in price, and that is the most immediate and sustained effect.
“Pricing pressure hits shelves well before inventory buffers are exhausted, and consumers have already started responding by reducing basket sizes and shifting toward discount banners,” he said.
“Assortment is the next place to watch. As commodity and yield pressures work through the supply chain, retailers may rationalize stock keeping units in certain categories, which means less variety rather than empty shelves. Delivery timelines on certain goods, particularly those moving through disrupted shipping lanes, will also stretch. The least visible impact is probably in the margin decisions happening right now, where brands are absorbing costs they will eventually have to pass through, which means some of the pricing pressure consumers are feeling today is still in its early stages.”
Aritzia Chicago flagship on Michigan Avenue. Photo: BLDUP.com
Aritzia is entering a new phase of growth, one that is increasingly defined by its performance in the United States rather than its historical base in Canada. Once viewed primarily as a Canadian fashion success story, the Vancouver-based retailer is now scaling rapidly across North America, supported by strong demand, expanding store networks, and growing brand awareness south of the border.
Recent analysis from Stifel, led by Managing Director Martin Landry, suggests that momentum remains firmly intact. The firm expects Aritzia to deliver another strong quarterly performance when it reports fourth quarter fiscal 2026 results, supported by robust consumer demand and accelerating U.S. sales trends.
Martin Landry
Stifel has increased its comparable sales growth forecast for the quarter to 21 percent year-over-year, ahead of broader market expectations. The upward revision reflects strong credit and debit card data, which indicates that consumer spending at Aritzia has remained elevated even as the company laps prior periods of significant growth.
Sustained Momentum in a Challenging Retail Environment
What stands out in Aritzia’s performance is not only the pace of growth, but its consistency. The company is sustaining high levels of comparable sales despite operating against increasingly difficult comparisons from previous years.
In the United States, Aritzia continues to post exceptional results. According to Stifel’s analysis of transaction data, U.S. sales are tracking at growth rates of 40 to 45 percent year-over-year. This level of performance reflects both organic demand and a rapidly expanding physical footprint.
Store growth has played a meaningful role. Aritzia’s U.S. store count has increased by approximately 21 percent year-over-year, and the network has nearly doubled over the past four years. As new locations open and existing stores mature, the brand is reaching a broader customer base while reinforcing its positioning in key metropolitan markets.
Rendering of the future four-level 41,800 sq ft Aritzia store at Robson and Howe in Vancouver. Rendering: Aritzia
A Scalable Model Built on Brand and Inventory Discipline
Aritzia’s ability to sustain growth is closely tied to its operating model. The company maintains tight control over its product assortment, merchandising strategy, and inventory levels, which has allowed it to respond effectively to demand without relying heavily on discounting.
Stifel points to strong product reception and effective digital marketing as key contributors to current momentum. At the same time, the company has ensured that inventory levels are sufficient to support demand, reducing the risk of missed sales opportunities.
This balance is particularly important in a retail environment where many competitors continue to struggle with inventory mismatches and margin pressure. Aritzia, by contrast, is seeing the benefits of disciplined execution across both physical and digital channels.
Margin Expansion and Profitability Strengthen the Story
Growth alone does not define Aritzia’s trajectory. The company is also improving profitability as it scales, which is reinforcing investor confidence.
Stifel expects adjusted EBITDA margins to expand by approximately 100 basis points in fiscal 2027, supported by lower markdown activity and operating leverage on selling, general, and administrative expenses. This combination suggests that Aritzia is not only growing, but doing so efficiently.
Earnings growth is expected to remain robust. Stifel forecasts adjusted earnings per share of $4.25 for fiscal 2027, representing an increase of roughly 34 percent year-over-year.
Such performance places Aritzia ahead of many retail peers, particularly at a time when discretionary spending remains uneven across categories.
Newly expanded Aritzia store at CF Toronto Eaton Centre, April 2026. Photo: Craig Patterson
A Strong Balance Sheet Enables Continued Expansion
Another critical component of Aritzia’s evolution is its financial position. The company is expected to end the fiscal year with a cash balance approaching $750 million, the highest in its history, alongside strong free cash flow generation.
This level of liquidity provides significant flexibility. Management has the ability to reinvest in store expansion, supply chain infrastructure, and digital capabilities, while also considering capital return strategies such as share buybacks.
Unlike many retailers that rely on external financing to support growth, Aritzia is increasingly positioned to fund its expansion internally. That distinction is becoming more meaningful as economic conditions remain uncertain.
Significant Runway Remains in the United States and Beyond
Despite its recent growth, Aritzia’s expansion story is still in its early stages. The company operates fewer than 80 stores in the United States, a fraction of the footprint maintained by several of its competitors.
This gap highlights a substantial opportunity for continued store growth, particularly in underpenetrated markets. In addition, Aritzia has yet to establish a meaningful brick-and-mortar presence outside North America, even as it serves international customers through its e-commerce platform.
With a strong return on invested capital exceeding 20 percent, the company is well positioned to continue deploying capital into high-return opportunities.
Mall installation for the newly expanded Aritzia store at CF Toronto Eaton Centre, April 2026. Photo: Craig Patterson
Valuation Reflects Confidence in Long-Term Growth
Aritzia’s share price has reached new highs, reflecting growing investor confidence in the company’s trajectory. While valuation multiples are above historical averages, Stifel argues that the premium is justified given the strength and durability of earnings growth.
The firm has increased its target price to $158, supported by higher earnings forecasts and continued momentum observed in recent consumer spending data.
From National Success to Continental Scale
Aritzia’s evolution is increasingly clear. What began as a Canadian retail success story has developed into a brand with growing influence across North America.
The company’s ability to combine strong product execution, disciplined operations, and strategic expansion has positioned it well for continued growth. While risks remain, including potential macroeconomic pressures and shifts in consumer behaviour, current performance suggests that Aritzia is navigating these challenges effectively.
As the company continues to scale its U.S. presence and explore future opportunities, its transformation into a North American retail powerhouse appears well underway.
Working as a cosmetology instructor in Minnesota is quite rewarding, thanks to the high demand for quality cosmetology training services, fast & affordable training, and the satisfaction of seeing your students grow. But having to renew your licence from time to time after you start working is a challenge you probably will never be ready enough for.
So, what should you do, and how do you ensure effortless renewal? Here are our top tips.
First, Understand the Renewal Requirements
Renewing your licence should be manageable, but only when you know what you are doing. Luckily, the renewal requirements for a cosmetology instructor licence in Minnesota are very clear. Your licence will expire on the last day of your birth month, typically every three years. Keep in mind that the licence period can be shorter when you first get your licence.
Beyond the expiry timeline, you also must complete the defined continuing education requirements. You are specifically required to complete 45 hours of continuing education for a successful renewal.
Make sure to get a top-ratedMN Board of Cosmetology-approved course from a top provider like RocketCert. This way, you are not just sure of taking the required topics, but also that you are studying content that will actually improve your teaching processes.
Choose Your CE Classes Carefully
If you ask us, the most important requirement for a successful renewal is continuing education. We mentioned earlier that the board expects you to complete 45 hours of continuing education. These are broken down into:
30 hours in teaching methodology
15 hours in clinical practice within your field of licensure
This seems like a steep requirement, especially when you consider how tightly packed most instructors’ schedules already are between teaching hours, student supervision, lesson planning, and other crucial inputs.
Still, choosing the right provider can help a lot, as some courses are better designed with instructor-level application in mind. So, whether you want to improve your teaching effectiveness, classroom control, or skill correction techniques, make sure to go for a course that offers what you are looking for.
Start Planning the Earliest You Can
The board of cosmetology has up to 15 business days to process renewals. So, avoid submitting your renewal application so close to the last week of your birth month to avoid unnecessary delays. Early birds will love it here, since you can submit a renewal application up to 10 weeks before your licence expires.
Keep Your Documentation Clean
Not many cosmetologists see this one coming, yet it contributes greatly to renewal slowdowns. While your course provider will more than likely be the one who will report your course completion to the board, there are times when you have to do it yourself.
This is mainly the case if the provider you used takes time to submit completion records to the board system. Make sure you understand how long it takes for your course provider to report completion so that you can decide whether you should report it yourself.
Also, make sure to retain the proof of course completion, just in case the board ever requires it.
Get Started Today
The easiest licence renewals are the ones that you planned seriously for. And when you understand what is required for a successful renewal, you can plan adequately. The information in this post should place you in a better position to do just that.
To make your work even easier, consider taking your continuing education course from RocketCert. Since they offer expertly written and fully narrated courses, you will have a seamless learning experience. One that fully facilitates improved performance at work.
Fine jewelry is going through a change that is away from just status symbols. For a long time large diamonds, heavy settings, and very public displays of wealth were what one saw. Today, however, many buyers are into pieces that are more personal and symbolic and that have an emotional connection.
This change in direction is a result of larger lifestyle trends. One sees a greater interest in mindfulness, authenticity, and individuality from consumers. Jewelry is not for visibility or as an investment play anymore; it is a form of self-expression and emotional storytelling. Therefore, we are seeing a shift to softer aesthetics, organic shapes, and very subtle use of color in current design.
Why Moonstone Aligns With This Shift
Among the gems that are seeing a revival in appreciation, moonstone stands out for its quiet, almost ethereal glow. Unlike high-clarity, high-sparkle stones, which are prized for their brilliance Moonstone is valued for its subtle adularescence, a light that seems to hover just below the surface.
This very quiet and almost imperceptible design element is what modern trends are leaning into with the moonstone one sees today. Also in terms of what the stone represents beyond its look, for years moonstone has been a stone of intuition, emotional balance, and inner clarity. These symbolic properties really connect with today’s buyers, who in turn are looking for jewelry that speaks to their internal self rather than just what is on the outside.
In this regard, moonstone is beyond decorative. It is a meaningful piece that is worn not for beauty alone but for personal value.
From Statement to Subtle Luxury
A change is noted in what consumers today consider to be luxury. What used to stand out as luxury is its bold and public presentation, which has now given way to refinement, restraint, and intention. This shift is very much present in the fine jewelry market.
Today instead of large-scale gemstone pieces or over-the-top designs, what one sees is a trend towards jewelry that has an easy and versatile appeal. Jewelry that you can wear every day, layer up with ease, and that fits into any lifestyle is what is in demand.
Moonstone in this trend is very much at home. It has a gentle glow that does not seek out the foreground but rather what goes on behind it. It presents a feeling of quiet opulence, a luxury that is felt in the bones as opposed to shouted out. This also is a shift towards a larger culture that values the understated over the overdone.
Design Trends Helping Drive Moonstone’s Appeal
Presently it is the contemporary jewelry designers who have brought moonstone back into the public eye. One sees a trend towards minimal settings, clean lines, and organic shapes, which in turn put the stone’s natural beauty at the fore.
One also sees that which is termed the bezel setting is very popular; what this does is frame the stone in a smooth metal edge, which in turn improves on the stone’s durability, and one sees a very modern look at the same time. In the case of moonstone bezel rings, for example, one notes how design may bring out the natural play of light in the stone without in any way overdoing it.
Less disruption, more focus on natural beauty. In gold, rose gold, or sterling silver pieces, moonstone does best in simple, flowing designs. The result is jewelry that is at once modern and classic.
Why Symbolic Stones Matter in Modern Retail
The rise in the popularity of stones such as moonstone is a part of a larger trend in consumer behavior. Today’s jewelry consumers are very much into products that tell a story. Instead of buying based purely on visual appeal or brand prestige, they opt for items that have meaning and that they feel an emotional connection to.
This is a rekindled interest in gemstones that have historical, cultural, or spiritual value. Stones are chosen for what they represent, calm, protection, clarity, love, or transformation, and not just for their appearance.
In the retail world one is seeing a large-scale change. This is pushing brands and designers out of the decorative and into the thematic; they are thinking more about story and intent. Jewelry in particular is shifting away from being simply decorative. Jewelry, in fact, is moving away from the decorative toward that which defines identity and emotion.
Moonstone and the Future of Fine Jewelry
Looking out at the future, one sees that moonstone is in a strong position within the growth of the fine jewelry market. As customers’ value meaning, subtlety, and emotional connection in their purchases, gemstones that present these elements will see increased appeal.
Moonstone as a choice brings a subtle shine and large-scale meaning, which one sees as a trend in this direction. It is a balance of natural charm with very personal value, which at present is very much at home in design.
Retail Insider’s newest articles are listed below, followed by Canadian Retail News From Around the Web. The Canadian retail market is adjusting as 17 million square feet of space returns to market amid Hudson’s Bay closures, but strong demand remains in food and beverage sectors. A huge announcement on Wednesday was that deals were signed for developers to buy Hudson’s Bay flagships in Vancouver, Calgary and Ottawa (not to mention Windsor ON). La Maison Générale celebrates its first anniversary in Montreal, marking international growth. Cadillac Fairview continues to lead with dominant shopping centre performance nationwide. These updates highlight evolving retail real estate dynamics and strategic expansion efforts across Canada.
In the present age of digital transformation, which is seen today, buying eyewear has become easier, faster, and more affordable than ever before. Online eyewear shopping, which is a growth field, allows customers to look at thousands of frames, to compare prices, and also to custom-fit lenses all from home. With the growth in demand for convenience and affordability, many people are now leaving the traditional optical stores for digital platforms for their vision care.
This article looks at what goes into online glasses shopping, what you should know, and which factors to keep in mind as you choose your pair of prescription glasses from the comfort of your home.
The Rise of Online Glasses Shopping
In the past ten years the eyewear industry has seen a change. Online retailers are now home to a large choice of prescription glasses, sunglasses, and blue light glasses at great prices. Also, it is noted that the global online eyewear market is growing very fast, which is a result of convenience, affordability, and also what may be called advanced virtual try-on technology.
Consumers today have a large selection of frame styles, lens types, and custom options at the click of a button. Also, many of the platforms’ features include virtual try-on tools, which allow customers to see how the glasses will look on them before they buy.
How Buying Glasses Online Works
The purchase of glasses online is easy and user-friendly:
Select your frames There are styles by shape, color, and material.
Select which type of lens there is: single vision, bifocal, progressive, and specialty options.
Enter your prescription Upload or type in the details of your eye prescription.
Give pupillary distance (PD), which is for proper alignment of the lenses to your eyes.
Add options that include anti-glare, UV protection, or scratch resistance.
Place your order, and glasses are shipped directly to your home.
According to health care professionals, when considering the Best place to buy glasses online, what is very important is that prescriptions and measurements be accurate, for even the smallest errors will impact vision quality and comfort.
Benefits of Buying Glasses Online
Online eyewear shopping has many benefits that appeal to today’s consumer.
1. Cost Savings
One of the great benefits is price. Online retailers report offering glasses at much lower prices than physical optical stores. Customers may save up to 40-70%, which again depends on the retailer and frame choice.
2. Wide Variety of Frames
Online retailers present a wide range of frame designs, from economic options to high-end designer styles. This variety in choice makes it easy to find glasses that suit personal taste and face shape.
3. Convenience
The option to shop at any time and any place is great for people with busy schedules or those that don’t have access to a nearby optical shop.
4. Virtual Try-On Technology
Many today have implemented AI for virtual try-on, which allows customers to see how the glasses will look on their face before purchase, thus removing the element of guesswork.
5. Easy Price Comparison
Online prices, features, and customer reviews across different brands may be compared, which is a great benefit.
Important Factors to Consider Before Buying
While at the computer, choosing out glasses is convenient, but also be aware of this:
Accurate Prescription: Always have a prescription current. Incorrect prescriptions can cause headaches, eye strain, and blurred vision.
Pupillary Distance (PD): PD is the distance between pupils, which is key to proper lens alignment. Inaccurate PD measurement may cause issues in vision clarity.
Return and Exchange Policies: Stores that offer flexible return policies in case the glasses don’t fit or meet expectations should be chosen.
Frame Fit and Comfort: Before glasses can’t be tried on, frame dimensions should be checked very carefully before ordering.
Prescription Complexity: People that have complex prescriptions (for example, progressive lenses or high astigmatism) may require extra care or professional fitting.
Why Online Glasses Are Becoming Popular
The eyewear industry is seeing a large shift towards online sales as a result of what consumers want in terms of convenience and affordability. Research shows that online sales of glasses may be much cheaper than from traditional brick-and-mortar stores at the same time, which doesn’t sacrifice quality when buying from reliable sellers.
However, experts report that, which is to say, in-person eye care still plays a large role in the health care they provide, which includes people with complex vision issues.
Tips for a Successful Online Glasses Purchase
To have a smooth experience while shopping for glasses online, these tips can be followed:
Always have an up-to-date eye exam before ordering.
Double-check prescription details before submitting
Use virtual try-on tools if available
Measure pupillary distance carefully
Read customer reviews and ratings
Choose retailers with strong return policies.
These measures reduce error, which in turn produces comfortable and accurate eyewear.
Conclusion
Online eyewear shopping has transformed the way glasses are bought. There is greater access to affordable options, convenience, and an extensive choice in style, which caters to many different needs and preferences. But at the same time it is very important for the purchase to be accurate in terms of prescription and right measurements.
For wearers that are out to find quality eyewear and a smooth online shopping experience, sites like the best place to buy glasses online are a great place to start, which also happen to offer stylish and affordable glasses that meet today’s vision requirements.
$734 per square foot total same stores sales productivity;
-2.1% change in Same Properties Cash Net Operating Income growth (or +1.7% excluding the $2.5 million prior year property tax recoveries recorded in 2025);
89.9% committed occupancy, 86.4% in-place occupancy (including vacancy from disclaimed HBC locations of 1.0 million square feet), and 82.4% long-term in-place occupancy;
78.5% combined recovery ratio;
+5.5% weighted average spread on renewing net rents across 372,000 square feet;
154 CRU lease deals across 288,000 square feet at average net rents of $53.60;
-3.2% change in Funds from Operations per average diluted unit to $0.425; (or +1.6% excluding the $2.5 million prior year property tax recoveries recorded in 2025);
51.8% FFO Payout Ratio;
$41.9 million in net income;
$5.3 billion total assets;
6.0x Average Net Debt to Adjusted EBITDA;
$626.8 million in liquidity;
$4.8 billion in unencumbered assets; and
$21.50 Net Asset Value per unit outstanding.
Patrick Sullivan
“The quarter reflected strong leasing and operational execution across the portfolio,” saidPatrick Sullivan, President and Chief Operating Officer.“Leasing velocity accelerated, with a high volume of lease deals completed at higher rents, while solid CRU occupancy across the portfolio continued to be supported by sustained tenant demand and strong retail fundamentals. At former HBC locations, the team is making continued progress and moving closer to solidifying leasing deals across a number of sites. The leasing activity underway will support structurally higher internal growth over time.”
Alex Avery
“Our first quarter results reinforce the durability of Primaris’ cash flows and the strength of our financial position,” said Alex Avery, Chief Executive Officer. “The portfolio continues to generate solid operating performance, supported by robust leasing activity, and resilient occupancy. With strong liquidity, very low leverage, and a low payout ratio, we are well positioned to fund internal growth, enhance portfolio quality, and create long‑term value for our unitholders.”
Rags Davloor
Rags Davloor, Chief Financial Officer added: “Our low leverage, low payout ratio model is a critical pillar to our strategy. We have significant liquidity with the full availability on our unsecured credit facility with no debt maturing in 2026. The recent credit rating confirmation of BBB high with a stable trend underscores the continued resiliency of our financial profile. Combined with our disciplined approach to capital allocation, these factors provide us with the flexibility to support reinvestment into our platform, future acquisitions, and NCIB activity.”
Primaris said its leasing activities are focused on driving value by actively managing the tenant and merchandising mix at its investment properties.
In-place occupancy for the portfolio decreased 6.8% from March 31, 2025 to 86.4% at March 31, 2026.
In-place occupancy for same properties decreased 4.6% from March 31, 2025 to 89.4% at March 31, 2026. The disclaimed HBC leases negatively impacted occupancy for Same Properties by approximately 4.2% compared to March 31, 2025.
Average in-place occupancy is calculated by averaging the occupied square feet and total GLA for each month in the measurement period. For the three months ended March 31, 2026, the average in-place occupancy rate was 86.1%, a decrease of 7.2% compared to March 31, 2025, due to the impact of the Acquisitions and the disclaimed HBC leases, it said.
HBC Exposure
“Primaris has full control of all 1.3 million square feet of former HBC GLA and has accelerated negotiations with retailers. The Trust’s leasing strategy is twofold: firstly, execute long term leases with single tenant and multi-tenant configurations, (“Re-leasing Plans”) where appropriate; and secondly, repurpose and subdivide space (“Redevelopment Plans”), to accommodate multiple large format tenants, and/or high-value CRU. While design, permitting, and planning activities are underway, Primaris is executing short-term leases with reputable tenants to restore rental income until Re-leasing Plans and Redevelopment Plans are executed,” it said.
“With strong demand from retailers for space and improved visibility into Primaris’ Redevelopment Plans, management now anticipates the retention and redevelopment of a greater portion of the former HBC space than previously contemplated. Management anticipates retaining approximately 90% of the former HBC space. Approximately 35% of this space is under committed or conditional leasing and the remainder is in advanced negotiations with retailers. The capital investment to redevelop this space is expected to be in the range of $175 million to $225 million. Management’s current estimates and assumptions are subject to change.”
The following table illustrates Primaris’ anticipated Re-leasing and Redevelopment Plans for the 11 former HBC locations.
(in ‘000s square feet, unless otherwise indicated)(unaudited)
Property GLA(thousands of square feet)
HBC GLA(thousands of square feet)
Strategy
Cataraqui Town Centre (50% owned)
Kingston, ON
286.3
56.5
Re-leasing
Les Galeries de la Capitale
Québec, QC
988.4
163.0
Re-leasing
Medicine Hat Mall
Medicine Hat, AB
467.8
93.2
Re-leasing
Place d’Orleans Shopping Centre (50% owned)
Orleans, ON
350.0
57.8
Re-leasing
Sunridge Mall
Calgary, AB
803.6
161.3
Re-leasing
Disclaimed on June 16, 2025
2,896.1
531.8
Promenades St-Bruno
Montreal, QC
1,098.3
130.7
Re-leasing
Conestoga Mall
Waterloo, ON
665.8
130.6
Redevelopment
Lime Ridge Mall
Hamilton, ON
810.8
125.3
Re-leasing
Orchard Park Shopping Centre
Kelowna, BC
651.1
127.3
Redevelopment
Oshawa Centre
Oshawa, ON
1,076.3
122.6
Re-leasing
Southgate Centre (50% owned)
Edmonton, AB
422.9
118.3
Re-leasing
Disclaimed November 27, 2025
4,725.2
754.8
11 locations
7,621.3
1,286.6
Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests in leading enclosed shopping centres located in growing Canadian markets. The current portfolio totals 15.1 million square feet, valued at approximately $5.2 billion at Primaris’ share.
Former Hudson's Bay flagship store in downtown Vancouver. Photo: CBRE
Purchase agreements have been signed for several of Canada’s most prominent former Hudson’s Bay properties, marking a significant step in the dismantling of the retailer’s real estate portfolio following its 2025 insolvency. Court filings show that deals are in place for landmark locations in Vancouver, Calgary, Ottawa, and Windsor. The Ottawa transaction is currently before the court for approval, while the Vancouver, Calgary, and Windsor (Devonshire Mall) transactions have been signed and are expected to be brought forward for approval in the near future.
The properties were part of the RioCan-Hudson’s Bay joint venture, which entered receivership after the retailer ceased operations and closed its stores in mid-2025. The sales process marks a key milestone in unwinding one of Canada’s more complex retail real estate partnerships.
The buyers signal a clear shift in direction — the purchasers are primarily developers and real estate firms. As a result, the future of these sites is expected to move away from traditional department store use toward redevelopment, repositioning, and mixed-use intensification across major Canadian markets.
From Joint Venture to Receivership
The properties were held within the RioCan-HBC joint venture, a complex structure formed in 2015 that combined retail real estate assets under shared ownership. When Hudson’s Bay filed for creditor protection under the Companies’ Creditors Arrangement Act in March 2025, the relationship became increasingly difficult to unwind.
By June 2025, the joint venture was placed into receivership, with FTI Consulting Canada appointed to oversee the assets. Many of the properties were left vacant, and the costs of maintaining them quickly added up. Court filings indicate that carrying costs exceeded $9.8 million during the process, creating pressure to move toward a sale.
A national marketing effort led by CBRE attracted strong interest. Dozens of potential buyers signed confidentiality agreements across the four assets, reinforcing that these were highly sought-after urban properties rather than distressed leftovers.
Hudson’s Bay flagship store in downtown Vancouver on Wednesday, May 28, 2025. Photo: Lee Rivett
Vancouver: Onni Targets a Key Downtown Asset
The Vancouver Hudson’s Bay building at 674 Granville Street is being acquired by Onni Group, one of the city’s most active developers.
The property sits in the heart of downtown Vancouver, an area facing ongoing challenges tied to shifting retail patterns and post-pandemic recovery. At the same time, it represents one of the most strategically located redevelopment opportunities in the country.
While specific plans have not been disclosed, Onni is known for large-scale mixed-use projects. Therefore, one might expect the site could eventually incorporate residential, hotel, or office components alongside a reimagined retail presence.
The transaction is notable for including a break fee, an uncommon feature in this process, which reflects the complexity and significance of the deal.
Hudson’s Bay downtown Calgary. Photo by Mario Toneguzzi
Calgary: Conversion Potential in the Downtown Core
In Calgary, the Hudson’s Bay building at 200 8th Avenue SW is set to be acquired by Astra Real Estate Corp., the parent company of Peoplefirst Developments.
The firm has been active in office-to-residential conversion projects, a strategy that aligns with broader efforts to revitalize Calgary’s downtown. As office vacancy remains elevated, conversion to residential use has emerged as a key tool in repositioning underutilized buildings.
The Hudson’s Bay site presents a strong candidate for this type of transformation. Although final plans have not been confirmed, the acquisition signals continued momentum behind adaptive reuse in the Calgary market.
Former Hudson’s Bay flagship store on Rideau St. in Ottawa. Photo: Apple Maps
Ottawa: Residential Intensification in the Capital
The Ottawa Hudson’s Bay property at 73, 85 and 87 Rideau Street is being acquired by 2808771 Ontario Limited, with the agreement signed by Neil Malhotra of Claridge Homes.
Located in the heart of downtown Ottawa, the site sits within a market that continues to evolve as residential demand reshapes the urban core. Claridge has been active in high-density residential development, and the acquisition suggests a similar direction for the property.
The building’s scale and location provide flexibility for redevelopment, including the potential for mixed-use integration that combines residential, retail, and possibly office space.
The Ottawa transaction is the first of the four to be formally brought before the court for approval, according to the Receiver’s Sixth Report.
Former Hudson’s Bay store at Devonshire Mall in Windsor, ON. Photo: TripAdvisor
Windsor: Strategic Consolidation at Devonshire Mall
The former Hudson’s Bay space at Devonshire Mall in Windsor is being acquired by Primaris REIT, which already owns the shopping centre.
This transaction stands apart from the others. Rather than a redevelopment play, it represents a strategic consolidation of ownership within an existing retail asset.
By acquiring the space, Primaris gains full control over one of the mall’s key anchor locations. This allows for repositioning, re-leasing, or subdivision of the space in line with evolving tenant demand, without the complications of a third-party owner.
Forerm Downtown Montreal flagship Hudson’s Bay store on April 24, 2025. The building started as a location for the Henry Morgan department store chain, which in decades past operated as an upscale business. Photo: Carl Boutet
Toronto and Montreal Flagships Reflect Diverging Paths
While these four transactions move forward, the most prominent Hudson’s Bay flagship properties in Toronto and Montreal are unfolding under different circumstances.
In downtown Toronto, the Hudson’s Bay building on Queen Street is owned by Cadillac Fairview and is not part of the receivership process. The site forms part of the CF Toronto Eaton Centre complex, and its future will be determined independently through Cadillac Fairview’s long-term plans.
Montreal presents a far more transformative proposal. A bid led by the James Bay Eeyou Corporation, in partnership with JHD Immobilier, aims to acquire and redevelop the flagship property at 585 Sainte-Catherine Street West as part of a $400 million mixed-use project.
The proposal would reposition the historic building as a cultural and commercial hub anchored by Indigenous-led programming. Plans include a Cree heritage museum, an Indigenous cultural centre, hospitality uses such as a hotel, as well as retail and office space.
The initiative carries deep historical significance, reflecting the long relationship between the Cree Nation and the Hudson’s Bay Company. It also emphasizes architectural restoration, including preservation of the building’s 19th-century façade. If approved, the project is expected to open later this decade and play a role in downtown Montreal’s broader revitalization.
Saks Fifth Avenue in the Hudson’s Bay Queen Street building, May 2025. Photo: Craig Patterson
Strong Demand Underscores Asset Value
The sale process highlights the continued value of well-located urban real estate, even as traditional retail formats decline.
Court documents indicate that 32 parties signed confidentiality agreements for the Vancouver property, while 16 to 19 parties did so for the other assets. This level of interest demonstrates that, although the department store model has weakened, the underlying real estate remains highly desirable.
At the same time, the agreements reflect current market realities. Purchase prices have been redacted, and the Receiver has described the transactions as the “highest and best” available under current conditions.
A National Shift Away from Department Store Anchors
Taken together, these transactions mark a turning point in how large-format retail spaces are used across Canada.
For decades, Hudson’s Bay locations served as anchor tenants in downtown cores and shopping centres. Today, those same buildings are being repositioned for a very different future.
Developers are exploring residential conversions, mixed-use projects, and experiential retail concepts. Meanwhile, landlords are rethinking how anchor spaces can be subdivided or repurposed to meet modern demand.
This shift reflects broader changes in consumer behaviour, urban development, and the economics of retail. It also underscores how quickly the market is adapting to absorb millions of square feet of former department store space.
What Comes Next
The Ottawa transaction is expected to be the first to receive court approval, with the others anticipated to follow in the near term as administrative steps are completed.
Closing timelines suggest that deals could be finalized as early as May and June 2026, although extensions remain possible.
As these transactions move forward, attention will turn to redevelopment plans and timelines. Each site represents a major opportunity to reshape its surrounding neighbourhood, and together they signal the beginning of a new chapter for some of Canada’s most recognizable retail properties.
