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Leyad Acquires Lloyd Mall in Lloydminster

By
Craig Patterson
-
An entrance to Lloyd Mall in Lloydminster, AB. Photo: Fillmore Construction

Montreal-based real estate investment and development firm Leyad has expanded its growing portfolio of Canadian shopping centres with the acquisition of Lloyd Mall, a dominant regional retail property serving communities across eastern Alberta and western Saskatchewan.

The transaction represents another step in Leyad’s rapid expansion across Western Canada. Over the past two years, the company has emerged as one of the country’s most active buyers of regional shopping centres, targeting assets anchored by grocery, pharmacy, and discount retailers that generate consistent foot traffic.

“Lloyd Mall fits squarely within our strategy of investing in high-quality retail assets that provide essential goods and services to their communities,” said Henry Zavriyev, CEO of Leyad. “Grocery and pharmacy anchored centres now represent our highest-grossing tenant category, and this acquisition further strengthens that segment of our portfolio.”

Henry Zavriyev
Henry Zavriyev

The purchase continues a string of high-profile acquisitions by the Montreal firm as it builds a national retail platform centered on necessity-based shopping centres and regional hubs.

Regional Shopping Centre Serving Two Provinces

Lloyd Mall occupies a unique position within the retail landscape of Western Canada. Located in the border city of Lloydminster, the property functions as the only enclosed shopping centre serving a broad regional trade area that spans eastern Alberta and western Saskatchewan.

The mall encompasses more than 200,000 square feet of gross leasable area and serves an estimated regional population of roughly 195,000 residents. For decades, the centre has acted as both a commercial hub and a social gathering place for the surrounding region.

The acquisition also reflects the strategic advantages associated with Lloydminster’s location. Because the city straddles the provincial boundary, shoppers often cross the border for purchases depending on taxation and pricing differences. The mall itself is located on the Alberta side of the boundary, a factor that has historically attracted shoppers from Saskatchewan communities seeking to avoid provincial sales tax on certain purchases.

Retailers at the centre benefit from a catchment area that extends well beyond the city itself, drawing customers from surrounding agricultural communities and energy-sector towns across the Prairie region.

Lloyd Mall in Lloydminster AB. Image: Leyad

Anchored by National Retail Brands

Lloyd Mall is anchored by several major national retailers that form the foundation of the centre’s tenant mix. Key anchors include Safeway, Shoppers Drug Mart, Urban Planet, and Dollarama.

These anchors reflect the type of tenant lineup that Leyad has increasingly targeted in its acquisitions. Grocery stores, pharmacies, and value-oriented retailers are widely viewed as resilient retail categories that continue to attract frequent customer visits regardless of broader economic cycles.

The mall also includes a mix of fashion and lifestyle retailers such as Bath & Body Works, La Vie en Rose, Boathouse, and Quarks.

According to information released with the transaction, the property is currently approximately 93 percent occupied, with a weighted average lease term of about 6.7 years across the tenant roster.

One of the few remaining vacancies is a roughly 7,000-square-foot space in a 40,000 square foot box formerly occupied by Sears Canada, which liquidated in 2017. Leyad has indicated that leasing efforts are underway to backfill the remaining space.


Lloyd Mall Walkthrough, Lloydminster, Alberta, 2025

Renovated Property with Strong Fundamentals

The centre underwent a significant renovation in 2021 that modernized the property and repositioned its tenant mix.

The renovation emphasized necessity-based retail and everyday services. During this process, Safeway and Shoppers Drug Mart were relocated into larger, more modern store formats designed to anchor the centre and drive regular visits.

Lifestyle brands such as Bath & Body Works and Urban Planet were also introduced as part of the repositioning strategy, helping diversify the retail mix and attract younger consumers.

The renovation represented a structural transformation rather than a cosmetic upgrade. Mall interiors were redesigned, common areas refreshed, and tenant layouts reconfigured to align with evolving consumer expectations. These improvements have positioned Lloyd Mall as a modern regional shopping centre capable of competing with both power centres and e-commerce alternatives.

Lloyd Mall in Lloydminster AB. Image: Lloyd Mall

A Shopping Centre with a Five-Decade History

Lloyd Mall has played an important role in the retail history of the border region for more than half a century.

The mall opened on July 20, 1973, with Hudson’s Bay Company as its dominant anchor tenant. From the outset, the mall was envisioned as the central gathering place for residents across the region. Because it was the only enclosed shopping centre within hundreds of kilometres, it quickly became a hub for retail, entertainment, and community events.

A major expansion in 1979 introduced new anchors including Zellers, while later changes saw portions of the property converted to accommodate Safeway and Sears.

Like many malls across Canada, Lloyd Mall was significantly affected by the closure of Sears Canada in 2017. The liquidation left a 40,000 square foot vacancy that forced owners to reconsider the role of department stores within the property.

In the years that followed, management pursued a strategy focused on smaller fashion retailers, services, and everyday necessities rather than relying on large department store anchors.

Historical photo of Lloyd Mall in Lloydminster, AB

Community Role Beyond Retail

Although Lloyd Mall is primarily known as a shopping centre, the property has also become an important community destination.

A notable addition in recent years was the relocation of the Lloydminster Public Library into the mall. The move was designed to increase foot traffic while providing residents with a modern, accessible civic facility.

The presence of a library within the centre reinforces the mall’s role as a community hub rather than simply a retail property. Residents visit not only to shop but also to access public services, meet friends, and participate in local events.

This blend of retail and civic uses reflects a broader trend in Canadian shopping centres, where landlords increasingly incorporate public amenities and services to maintain relevance in the digital age.

Part of Leyad’s Growing National Retail Portfolio

The Leyad Lloyd Mall acquisition forms part of a broader strategy that has seen the company acquire several major retail properties across Canada since 2024.

Among the most significant transactions was the February 2026 purchase of St. Vital Centre in Winnipeg for $160.5 million. The nearly one-million-square-foot shopping centre ranks among the most prominent malls in Manitoba and represents a major addition to Leyad’s portfolio.

In 2025, the company also acquired St. Albert Centre in St. Albert and Londonderry Mall in Edmonton.

Another major acquisition occurred in Ontario with the purchase of Pen Centre in St. Catharines, a property exceeding one million square feet that has significant long-term redevelopment potential.

The company has also assembled a retail portfolio in Prince Albert through the acquisition of Cornerstone Shopping Centre and South Hill Mall.

These deals illustrate a consistent strategy focused on dominant regional retail assets in mid-sized Canadian markets.

Lloyd Mall in Lloydminster AB. Image: CommercialCafe

A Focus on Necessity-Based Retail

Leyad’s approach to retail real estate emphasizes properties anchored by essential goods and services.

Executives have often described this model as a combination of grocery, pharmacy, and discount retail. These categories generate frequent consumer visits and remain resilient even during economic downturns.

For Lloyd Mall, the presence of Safeway, Shoppers Drug Mart, and Dollarama represents a strong foundation for this strategy.

The company has also demonstrated an ability to reposition underutilized retail spaces. At Londonderry Mall in Edmonton, for example, Leyad filled a floor in a former Hudson’s Bay space with a large standalone Zellers store following the brand’s revival by a Canadian ownership group.

Direct Management and Data-Driven Operations

Another distinctive aspect of Leyad’s strategy is its approach to property management.

Unlike some institutional owners that outsource management responsibilities to third-party firms, Leyad has increasingly moved operations in-house. As part of the Lloyd Mall acquisition, the company confirmed it will assume management responsibilities directly from BentallGreenOak.

This approach allows Leyad to implement its own technology systems and operational strategies across its properties.

According to company information, Leyad uses proprietary analytics tools to analyze shopper behaviour, including foot traffic patterns, dwell time, and movement throughout retail environments. These insights can help inform leasing decisions, tenant placement, and marketing strategies.

By maintaining direct control over management, the firm aims to move quickly when opportunities arise to improve tenant mix or reconfigure retail space.

Retail Momentum Building in Lloydminster

The acquisition of Lloyd Mall also coincides with a period of significant retail investment in Lloydminster itself.

One of the most closely watched developments is the confirmed arrival of Costco Wholesale, which is currently constructing a new store in the southwest portion of the city.

The warehouse club is expected to occupy approximately 160,000 square feet on a 20-acre site and will include a gas bar and liquor outlet. Municipal permits were approved in 2025, and groundwork is already underway.

Local officials have described the Costco project as transformative for the region’s retail landscape. Once completed, the store is expected to attract shoppers from across a broad geographic area, further strengthening Lloydminster’s role as a regional retail destination.

Other developments include renovations to the former Canadian Tire building, which is being subdivided into multiple retail units, and expansions at the nearby Cornerstone retail power centre anchored by Walmart and Sobeys.

More from Retail Insider:

AI-Driven Fraud Scams Impact Canadian Retail: Interac

By
Craig Patterson
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Retail Fraud. Image: Retail Insight Network

New research from Interac Corp. suggests that fraud is increasingly evolving alongside current events, with scammers leveraging artificial intelligence and economic uncertainty to target Canadians. According to a national survey commissioned by Interac, nearly six in 10 Canadians say they have encountered tariff-related scam attempts in the past six months, highlighting how fraud is beginning to mirror real-world headlines.

The findings were released during Fraud Prevention Month and reflect growing concern among consumers about the sophistication and frequency of digital fraud. The survey indicates that scams referencing tariffs, package delays, customs fees, and impersonation calls have become common, particularly as economic discussions about cross-border trade and inflation continue to dominate public conversation.

 

Scams increasingly tied to current events

Interac’s research shows that Canadians are noticing a shift in how fraud attempts are being structured. Nearly eight in 10 respondents, or 79 percent, believe artificial intelligence is enabling fraudsters to create highly convincing scams more quickly than in the past. By referencing breaking news and current events, these scams can appear legitimate and timely, making them more difficult to detect.

In the past six months alone, 58 percent of Canadians say they have encountered a tariff-related scam attempt. These messages often involve claims that a package is being held or delayed due to customs issues, requests for import fees, or calls from individuals impersonating customs officials. At the same time, more than half of Canadians believe scammers are exploiting uncertainty around trade rules between Canada and the United States.

The survey also found that economic pressures are becoming another common theme in fraud attempts. About 24 percent of Canadians report seeing an increase in scams referencing rising cost-of-living pressures, including overdue bill notices, threats of utility shutoffs, or offers of government financial assistance.

Together, these trends suggest that scams are increasingly aligned with the economic and political issues Canadians encounter in daily life.

“Our latest Interac survey reflects what we’re seeing on the front lines, fraudsters are moving faster and tracking the news cycle to make phishing, impersonation and investment scams seem legitimate,” said Mark Hines, Head of Product, Fraud, at Interac. “As those scams become harder to spot, many of the warning signs Canadians once relied on are less clear, eroding trust in everyday digital interactions.”

Traditional warning signs becoming less reliable

The survey suggests that as AI-driven fraud scams in Canada become more sophisticated, many traditional indicators of fraud are losing their effectiveness. Two-thirds of Canadians, or 66 percent, say that common warning signs such as spelling mistakes or poor formatting are no longer dependable ways to identify scams.

As a result, skepticism toward digital communication is growing. More than half of Canadians, or 53 percent, say they have questioned legitimate messages from trusted organizations, including financial institutions and telecommunications providers, because fraudulent messages have become so convincing.

This erosion of trust reflects a broader shift in how Canadians interpret online communications. Consumers are increasingly cautious, even when interacting with well-known companies or institutions.

 

Consumer behaviour shifting in response to fraud concerns

The rise of sophisticated scams appears to be influencing everyday consumer behaviour. Nearly half of Canadians say they are now more cautious when evaluating deals online, while 47 percent report avoiding unfamiliar retailers due to fraud concerns.

Cross-border purchasing behaviour is also changing. About 23 percent of Canadians say they have reduced purchases from international retailers because of concerns about scams. At the same time, one in three Canadians now prioritize Canadian websites over international ones when shopping online.

These behavioural shifts suggest that AI-driven fraud scams in Canada are not only affecting financial security but also influencing where and how Canadians shop.

Canadians unsure about their level of protection

Despite increasing vigilance, many Canadians remain uncertain about their ability to protect themselves from fraud. Only 31 percent of respondents say their current personal fraud prevention practices are sufficient to keep them safe.

If they were to fall victim to fraud, nearly two-thirds of Canadians say they would feel regret for not doing more to protect themselves.

“Our research highlights the emotional toll of navigating a fraud landscape that increasingly mirrors real life. While fraud increasingly intersects with everyday decisions, addressing this shift requires coordinated action across the ecosystem. Interac is focused on protecting Canadians’ financial safety by working with financial institution partners to strengthen fraud prevention measures, drawing on our unique, system-wide view of fraud across account-based payments,” added Hines.

Survey methodology

The Interac survey was conducted by Burson between February 17 and February 20, 2026, and included 1,500 adult residents across Canada. Respondents were selected from Leger’s web panel and the results were weighted by age, gender, and region to reflect Canada’s population distribution according to 2021 Census data.

For a randomly selected sample of this size, the associated margin of error would be plus or minus 2.5 percent, 19 times out of 20.

Interac says the findings underscore the growing complexity of fraud prevention in Canada’s increasingly digital economy. As scams become more closely tied to current events and powered by artificial intelligence, financial institutions, retailers, and consumers may all need to adapt to a rapidly evolving threat landscape.

More from Retail Insider:

Home Improvement Spending Shifts in Canada

By
Craig Patterson
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Home Hardware Building Centre in Lloydminster. Photo: Home Hardware

Canada’s home sector is entering a new phase. Renovation demand remains resilient, disposable income is uneven but growing in key segments, and demographic shifts are redistributing spending power across regions and age cohorts. For retailers, the implications stretch far beyond hardware aisles.

In an interview with Retail Insider, the Retail Industry team at Environics Analytics (EA) outlined how online shopping behaviour, aging demographics, migration patterns, and patriotic purchasing are intersecting to reshape home improvement spending in Canada.

What began as holiday web and foot traffic analysis evolved into something much larger.

“It wasn’t our original intent,” said David Spira, Director of Account Management at Environics Analytics. “But it became the key discovery.”

That discovery was clear. The most active online mass merchandise shoppers are also disproportionately active in high-intensity renovation categories.

Online Mass Merch Shoppers Are Driving Renovation Signals

Spira explained that when Environics Analytics analyzed top web-oriented mass merchandise shoppers, above average indexesappeared across renovation-heavy categories, indicating these shoppers are likely to be spending more than the average Canadian household.

“We saw spikes in basement finishing, home security, HVAC, hard surface flooring, windows and doors, re-roofing, fences, and driveways,” he said. “A lot of what we saw was renovations to the current home. That’s where the spikes really showed up.”

Importantly, this pattern is not isolated to traditional home improvement banners. Similar behaviours appear among in-store electronics shoppers and sporting goods shoppers.

The takeaway for retailers is straightforward. Renovation intent is bleeding across categories. The customer buying a television or sporting equipment may also be planning a kitchen upgrade or basement project.

Who Is Spending: Affluent, Diverse, and Home-Focused

The behavioural data was layered with PRIZM segmentation and EA’s DemoStats and Social Values data to identify who these renovation-heavy consumers are.

Spira described them as well-educated homeowners in larger, culturally diverse households with average incomes around $150,000, roughly 17% above the national average. Within that group, households are about 1.5 times more likely to earn over $200,000.

“There’s a strong emphasis on home as a status symbol,” Spira said. “We also see appetite for storage, organization, lawn and garden, and time-saving upgrades.”

These consumers skew toward novelty and brand-forward cues. They want to be early adopters and respond to aesthetics and identity.

In other words, renovation is not just functional. It is expressive.

The Bifurcation Effect Is Real

The conversation quickly moved to a broader macro question. How can renovation demand remain strong while many Canadians feel financially stretched?

Spira framed it through the lens of a divided economy.

“There are still people who have money to spend, and they’re spending it,” he said. “Then there are others who don’t.”

Supporting that perspective, Environics Analytics data shows disposable income growth between Q2 2021 and Q2 2024 has been strongest among both the lowest and highest income quintiles.

This dual growth pattern reinforces the K-shaped narrative. Value-seeking behaviour is intensifying at one end, while premium renovation and refresh activity continues at the other.

Aggregate disposable income is projected to exceed $50 billion annually over the next three years, with more than $4 billion earmarked for home refresh spend.

The opportunity is material.

$6,812 Per Household: Where the Money Goes

The data quantifies the scale of spending. EA’s HouseholdSpend data shows the average Canadian household currently spends $6,812 annually across key home-related categories.

Of that, $4,335 is directed to home improvement including tools, materials, garden, and labour. Furniture accounts for $1,085, small appliances and décor for $957, and large appliances for $435.

Renovation-led categories still dominate the wallet. However, adjacent categories meaningfully benefit from refresh cycles.

Home improvement spending Canada remains renovation-heavy, but furniture and décor should not be overlooked as secondary beneficiaries.

Four Core Customer Groups

The research identifies four primary home improvement customer segments.

Older Families & Empty Nesters are typically 55+, earning around $175,000, largely homeowners in singles and semis, representing roughly 1.1 million households.

Middle-Aged Families are 45 to 64, earning approximately $135,000, representing about 1.6 million households.

Large Diverse Families are also 45 to 64 with incomes near $160,000, representing approximately 746,000 households.

The Younger Mix includes households under 45 earning about $145,000, often renters in semis, rows, and apartments, representing roughly 906,000 households.

The highest average spend sits with older families and empty nesters.

“We described it as a total home refresh,” Spira said. “That group was spending about 69% above the Canadian average.”

The younger mix, while often renters, demonstrates strong furniture and portable décor spending.

“They may not be renovating the structure,” Spira noted, “but they’re investing in what they can take with them.”

Aging in Place Is Accelerating Retrofits

A key structural driver remains aging in place.

“Aging in place is a real driver,” said Michael Scida, Vice President, Retail Business Development at Environics Analytics.

“We’re seeing people retrofit their current living arrangements to make them comfortable as they move into their senior years,” he said. “There’s money to spend on those projects.”

Those upgrades range from accessibility improvements to full-scale kitchen and bath renovations. With 20% of Canadians now over 65, this driver will remain significant.

DIY Versus DIFM: Labour Constraints Matter

Renovation demand is not purely about consumer intent. Labour availability plays a role.

Nationally, 29% of home improvements are completed by the homeowner, 18% by another household member, and 25% by contractors.

Complex jobs such as HVAC, roofing, windows, and kitchen remodels skew heavily toward professional installation.

“In rural settings, people are more inclined to do it themselves,” Scida said. “In urban settings, you’re more likely to hire a contractor.”

Retailers dependent on installation services must monitor contractor capacity just as closely as consumer confidence.

Migration, Secondary Markets, and Wealth Mobility

 Demographics are shifting.

Annual immigration targets have been reduced by roughly 20% to 25%, and growth rates have slowed across regions, with some provinces recording population declines.

However, interprovincial migration remains active in select provinces, and affluent seniors continue moving to secondary markets.

“A lot of these households are taking their money with them,” Spira said. “Some are maintaining second homes. Others are selling in the city and making a secondary market their primary residence.”

This redistribution supports localized renovation demand in markets outside major CMAs.

The Rise of Patriotic Purchasing

Another emerging variable is patriotic purchasing.

A meaningful share of Canadians demonstrate strong affinity toward buying Canadian products, while others express national pride that may influence brand choice.

For hardware and home improvement retailers, this shift can influence visitation patterns and sourcing strategies, particularly where domestic manufacturing exists.

In categories such as lumber, tools, paint, and garden products, sourcing transparency may become a competitive lever.

Precision Over Blanket Expansion

The overarching strategic message is clear: understand where your best customer lives and activate accordingly.

Feature and display strategy, retail media, and optimized assortment should align with high-value trade areas and core segments.

Home improvement spending Canada is not disappearing. It is concentrating.

It is concentrating among Gen X in peak earning years. It is concentrating among aging homeowners investing in comfort. It is concentrating among affluent households who view the home as identity. It is redistributing geographically as Canadians move. For retailers, the opportunity remains significant. The winners will be those who combine behavioural data with regional insight, contractor capacity awareness, and sharper targeting across channels.

More from Retail Insider:

Kettlemans Bagel eyes franchising push as sandwich sales drive growth: Amer Wahab interview

By
Mario Toneguzzi
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Photo: Kettlemans Bagel

An Ottawa-based bagel chain known for its in-house baked products is preparing to accelerate expansion through franchising as it leans into a business model increasingly driven by sandwiches.

Kettlemans Bagel currently operates seven corporate locations across Canada and is now positioning itself for broader growth through a combination of franchise stores and company-operated bakeries, said Amer Wahab, president and chief operating officer.

“Our average unit volume is north of $4 million — about $4.3 million — and our best store does north of $5 million,” Wahab said in an interview. “Sixty-three per cent of that is sandwiches.”

The company operates four locations in Ottawa, two in Toronto and one in Montreal. The original store opened about 32 years ago at 912 Bank St. in Ottawa across from the old Lansdowne Park site which has been redeveloped over the years.

All current locations are corporate stores, but Wahab said the company has begun signing franchise partners and expects new development to rely heavily on that model – although there will also be corporate stores.

“We’ve got a couple of franchisees on board for about six stores in development,” he said. “Our goal is hopefully they can get some open maybe in the last quarter of this year, but I think predominantly most of that growth will be in 2027.”

Recent franchise agreements will bring both full bakery locations and Sandwich Shops to
Kingston, Ancaster, Hamilton, Barrie, and downtown Toronto, with additional markets under
active development.

Amer Wahab
Amer Wahab

The company’s long-term goal is significantly larger. Wahab said the chain believes it could eventually support about 500 locations across North America through a mix of traditional bagel bakeries and smaller sandwich-focused outlets.

“I know you’re probably thinking, ‘Who’s this guy quoting stupid numbers,’” he said. “But I’ve been very fortunate to be doing this for a very long time.”

Wahab said his background includes helping expand several restaurant brands internationally, experience he believes gives credibility to the chain’s ambitions.

“I’ve taken brands from inception or an incubation state and grown them globally,” he said.

His experience includes working with brands like Big Smoke Burger, Five Guys Burgers & Fries, Herbal Magic and Freshii.

The company’s expansion strategy reflects a shift in how customers use its stores. While Kettlemans is known as a bagel bakery, Wahab said sandwiches account for the majority of revenue across its network.

“We’re a bagel shop, but 63 per cent of our business is sandwiches,” he said. “We just happen to make the bread.”

The trend is especially visible in delivery channels. At one Toronto-area location, Wahab said the store generates about $1 million annually through third-party delivery services, with the vast majority tied to sandwiches.

“Ninety-eight per cent of that million dollars is sandwiches or sandwich-related items,” he said.

Those sales patterns prompted the company to rethink its real estate model. Rather than relying solely on large bakery locations, the chain began testing smaller outlets focused primarily on sandwich preparation.

“We said, hold on a second here,” Wahab said. “If 63 per cent of our sales are sandwiches, we can have stores with smaller footprints, lower capital costs and lower operating costs making just sandwiches.”

A test concept operated out of a small kitchen hub location, where the company sold sandwiches from roughly 100 square feet of space. “We were doing $7,000 a week out of 100 square feet,” he said.

The test helped inform a new hub-and-spoke system the company plans to use as it expands. Under the model, larger corporate bakeries would produce bagels and distribute them to smaller sandwich shops run by franchise partners.

“If a market needs a bakery and our franchise partner may not be capitalized enough to open one, we’ll open the bakery,” Wahab said. “Then we’ll spoke out our product to our franchise sandwich shops.”

He said the approach allows the company to maintain control over the production of its core product while enabling smaller and less expensive restaurant formats.

“We’re maintaining the consistency of the product — the bread, the bagel,” he said.

Image: Kettlemans Bagel

While the immediate focus remains on Canada, Wahab said the chain is also considering expansion into the United States and the Middle East over the longer term. The company’s near-term objective is to sign franchise agreements for about 100 locations within the next three years.

“That’s not necessarily open,” Wahab said. “That’s a hundred sold in the first three years.”

Reaching about 500 units over a longer horizon would depend on sustained development across multiple markets, he added. Wahab said broader expansion in the fast-casual restaurant sector is being driven largely by changing consumer expectations about value.

“I think consumers are way more savvy today than they were eight or 10 years ago,” he said.

Value, he said, is no longer defined solely by price but by the perceived quality of a product relative to what customers pay. “When I say value, I’m not talking about a discounted product,” Wahab said. “I’m talking about the worth of an item.”

That shift has benefited brands built around relatively simple menu items prepared quickly and sold at moderate prices, he added. Consumers still want to eat out, but rising costs in traditional dining categories are pushing some customers toward fast-casual options.

“It’s hard to go out to a fancy steak dinner these days,” Wahab said.

Kettlemans Bagel

He cited a recent outing with his son as an example of how prices can influence behaviour.

“I took my son out for chicken wings and had sticker shock,” he said. “Two pounds of wings were $34.” Experiences like that, he said, are prompting some customers to seek alternatives where they feel they are getting stronger value for their money.

“I’m not going there again,” Wahab said of the experience. “I’ll go somewhere where I have perceived value.”

Despite the ambitious expansion targets, Wahab said the company’s focus remains on building a system that can support long-term growth while maintaining product consistency.

The combination of corporate bakeries and franchise sandwich outlets is intended to allow expansion without sacrificing quality control.

“There’s a demand for this sector where you’ve got a great product and guests are willing to pay,” he said.

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Beavertails eyes growth through retail expansion and strategic store openings: Pino Di Ioia interview

By
Mario Toneguzzi
-
BeaverTails location in Grand Bend, ON. Photo: Tourism Sarnia-Lambton

Beavertails, the Canadian pastry chain known for its signature treats at tourist locations, is expanding its retail presence and continuing to open new storefronts while navigating economic pressures and evolving consumer patterns.

Pino Di Ioia, president of Beavertails, said the company’s brick-and-mortar operations are experiencing double-digit growth, driven by a combination of new products and price adjustments amid inflation. “It’s a holistic mix,” he said, noting that last year’s growth continued into 2026, exceeding expectations.

The performance contrasts with the company’s amusement park and mobile truck operations, which have recorded low single-digit growth.

Di Ioia attributed this to the dependency of those segments on discretionary spending.

“If you don’t go to the amusement park, you don’t buy a Beavertail, obviously,” he said. He added that high ticket prices, such as $100 for entry to some attractions, influence consumer behaviour. Mobile units, often used for catering, have also softened due to reduced demand.

Beavertails maintains approximately 164 permanent locations across Canada. The company previously experimented with ghost kitchens and pop-up outlets, which temporarily increased its footprint toward 200 locations. Many of these were phased out post-pandemic due to low volume.

“We got rid of all these other ghost kitchen pop-up stores that were getting us closer to 200. Volume-wise we’re up because those last 30 stores were low volume for us,” Di Ioia explained.

Pino Di Ioia
Pino Di Ioia

Looking ahead, the company has several planned openings in the future, including a beach resort in Alberta. Cypress Mountain near Vancouver opened in the past year. The company is looking at a zoo location in Canada. Di Ioia emphasized that Beavertails maintains a selective approach to site selection, focusing on tourist-driven environments that align with the brand’s experiential model.

The company also continues to explore U.S. expansion, though regulatory and tariff considerations make the market uncertain.

“Depending on the day with tariffs, it’s like, ‘Do we want to do it?’ But the U.S. is where we need to be,” Di Ioia said. In Canada, Beavertails has largely completed its presence in major tourist resorts.

Franchising policies at certain sites, including Toronto’s Distillery District and a Montreal-area resort, have limited growth. At Granville Island in Vancouver, municipal restrictions prevent new franchise entries despite the presence of other chains like The Keg and Lee’s Donuts.

Di Ioia said the company anticipates policy changes in the future. “One day the policy will change. We wait,” he said.

Beyond physical stores, Beavertails has developed a grocery retail strategy that emerged during the COVID-19 pandemic. The line includes pancake mixes, ice cream sandwiches, and fresh baked cookies, distributed through major Canadian grocers including Farm Boy, Loblaw, Sobeys, Metro, and Calgary Co-op. The product line now represents a notable portion of overall sales.

Di Ioia described the retail strategy as complementary to the brand’s experiential focus at tourist locations.

“The client loves our brand, but they don’t want to buy us outside of leisure locations. We make the memory, and if we’re not in a tourist environment, the next stop we’ve understood is home,” he said. He added that Beavertails products are increasingly becoming part of celebrations at home, from birthdays to family milestones.

Di Ioia highlighted Beavertails as an indicator of broader consumer trends. He described the company as resilient to economic fluctuations, observing that consumers still purchase its products even when cutting back on other discretionary spending.

“When things are rough economically, you maybe don’t go for a steak, but you’ll still go for a Beavertail. And when things are good economically, you could do both,” he said.

Photo: BeaverTails

This dynamic also reflects K-shaped economic patterns, in which wealthier individuals continue to spend while others limit discretionary purchases. Di Ioia cited anecdotal experiences in tourist hubs like Banff, noting surprisingly high prices for local dining options, which consumers continue to accept.

Beavertails is balancing expansion with operational prudence, seeking to maintain profitability while pursuing new markets and retail channels.

Di Ioia said the company is confident in navigating both Canadian and international growth opportunities.

“We’re amazed at the volume we’re doing with the grocery line, so we’ll keep pushing that,” he said.

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Canadian tech company launches the “Trivago of Groceries” app

By
Mario Toneguzzi
-
Gofer.run photo
Gofer.run photo

As grocery prices continue to rise, a new Canadian app is helping shoppers find where their groceries cost less before they leave home.

Gofer.run compares both everyday and sale prices across grocery stores in a shopper’s neighbourhood and shows where a grocery list costs the least, whether someone shops at one store or chooses to split their trip across multiple stores.

Unlike traditional flyer apps or store-specific tools, gofer.run analyzes each item on a user’s list and calculates the lowest total grocery bill based on the number of stores a shopper is willing to visit, said One Red Maple Inc., which operates the app and is a Canadian start up, focused on helping Canadians feed themselves.

Mark Sherry
Mark Sherry

Gofer.run is free to download and available on iOS and Android across Canada (currently English only).

“As a serial entrepreneur nearing the end of my career, I’ve always wanted to build something that truly makes a difference, and there’s simply no better feeling than helping Canadians feed themselves,” said Mark Sherry, Co-founder and President.

“In these turbulent times with rising grocery prices, Gofer.run was born out of a passion to provide a vital tool that helps families save money and simplify their grocery planning before they even leave home.”

For example, if ketchup is on a list, the app pulls ketchup products from multiple stores and compares prices by unit, such as per 100 grams or 100 millilitres, allowing shoppers to quickly see which option delivers the best value, explained the company.

Once a grocery list is entered, gofer.run evaluates every item and shows shoppers where their basket costs less. Users can choose to shop entirely at one store and still see savings compared to their usual store, or allow the app to optimize additional savings by visiting multiple stores, it said.

While one individual item may not always be the absolute lowest price on its own, the overall basket is optimized to deliver the lowest total cost based on the number of stores selected, it added.

Key features include:

  • Price comparison by unit across neighbourhood grocery stores ;
  • Smart grocery lists that can be shared with household members
  • Weekly flyer browsing and price-matching lists
  • Photo search to compare prices while shopping in-store
  • List digitization that converts handwritten lists into digital ones
  • Saved grocery lists for recurring shopping trips
  • Recipe integration that adds ingredients directly to a shopping list
  • Canadian products highlighted with a maple leaf icon

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Food services and drinking places record moderate growth amid ongoing price pressures in 2024: Statistics Canada

By
Mario Toneguzzi
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Andrea Piacquadio photo
Andrea Piacquadio photo

Operating revenue for the food services and drinking places subsector rose 4.8% to $99.6 billion in 2024, reports Statistics Canada.

This increase was consistent with higher food prices: the food purchased from restaurants component of the Consumer Price Index CPI grew 3.6% in 2024. This was above the all-items CPI, which increased 2.4%. Sales of food and non-alcoholic beverages accounted for 86.5% of total sales, while alcoholic beverages represented 11.0% and other sales made up the remaining 2.5%, it said.

Operating expenses for the food services and drinking places subsector increased 4.3% year over year to $95.5 billion in 2024, resulting in a slightly higher operating profit margin of 4.1%, up from 3.6% in 2023. In 2024, the cost of goods sold remained the largest operating expense, accounting for 35.9% of total expenses. This was followed by salaries, wages, commissions and benefits (33.6%) and rental and leasing costs (8.1%), added the federal agency.

cottonbro studio photo
cottonbro studio photo

“Operating revenue at limited-service eating places grew 7.7% to $44.9 billion in 2024, while operating revenue at full-service restaurants increased 1.4% to $44.2 billion,” it noted.

“This marks the first year, apart from 2020 and 2021 during the COVID-19 pandemic, when limited-service establishments generated higher operating revenue than their full-service counterparts. The relative performance of the two industry groups may reflect consumers shifting toward lower-cost, convenience-oriented dining options amid continued price pressures.”

Operating revenue for the special food services industry group—which includes food service contractors, caterers and mobile food services—was up 10.9% year over year to $7.8 billion in 2024. This subsector-leading growth was partly supported by increased return-to-office requirements across both the public and private sectors, explained Statistics Canada.

“By contrast, operating revenue for drinking places edged down 2.6% to $2.7 billion in 2024. Apart from the temporary recovery that accompanied the lifting of pandemic-related restrictions (from 2021 to 2023), the industry has seen a gradual and steady decline for more than 10 years, partly due to shifting consumer preferences regarding alcohol consumption,” it said.

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Direct selling becoming more attractive as a flexible entrepreneurial opportunity: DSA Canada

By
Mario Toneguzzi
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Direct Sellers Association of Canada photo
Direct Sellers Association of Canada photo

A new survey by the Direct Sellers Association of Canada (DSA Canada) reveals that most Independent Sales Consultants participate on a part-time basis, with 55 per cent working between two and 10 hours per week, underscoring direct selling’s role as a flexible entrepreneurial opportunity that complements traditional employment, caregiving responsibilities, and other pursuits.

The recent Independent Sales Consultant (ISC) Survey found that more than half of ISCs surveyed have been active in direct selling for nine years or longer, demonstrating that participation is often sustained over the long term, challenging perceptions of direct selling as a short-term or transitional activity.

Peter Maddox
Peter Maddox

“Canadians are increasingly seeking flexible ways to earn income and build skills outside of traditional employment models,” said Peter Maddox, President of DSA Canada. “This research shows that direct selling continues to provide a low-barrier entry point to entrepreneurship, while also offering opportunities for long-term engagement and personal development.”

The survey revealed that women continue to represent the majority of Independent Sales Consultants in Canada, accounting for 89 per cent of respondents, highlighting direct selling as a significant pathway for women’s entrepreneurship and economic participation.

The survey also found that customers are most influenced by product quality and trusted relationships, rather than price alone, reinforcing direct selling’s role as a relationship-driven retail channel. ISCs reported that customer purchasing decisions are also driven by customer service.

“Trust remains at the heart of direct selling,” added Maddox. “In an increasingly digital and impersonal retail environment, Canadians continue to value personalized service and trusted product recommendations.

“These findings show that direct selling gives Canadians, especially women, flexible ways to earn income, build an independent business, and develop skills that support economic participation throughout their lives.”

Direct Sellers Association of Canada photo
Direct Sellers Association of Canada photo

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OAKBERRY opening 2 new locations in Victoria

By
Mario Toneguzzi
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OAKBERRY photo
OAKBERRY photo

Brazilian açaí chain OAKBERRY is expanding to Victoria with two locations set to open in early summer 2026.

The global superfood brand will debut its first Victoria storefronts at Tuscany Village Shopping Centre and in Downtown Victoria on Fort Street. These openings mark OAKBERRY’s official arrival on Vancouver Island, with plans to introduce additional locations following the launch of the first two stores, said the company in a news release.

Founded in São Paulo, Brazil in 2016, OAKBERRY said it has grown from a single shop into a global phenomenon, celebrated for its sustainably harvested organic açaí and nutrient-packed superfoods. After its successful Canadian debut in 2023, the brand added it has continued to expand across the country and is now arriving on Vancouver Island.

“OAKBERRY’s menu will offer signature açaí smoothies and bowls made with authentic Brazilian açaí without dyes or artificial preservatives, available in small, medium, and large sizes that guests can create and customize to their liking. Beyond açaí, OAKBERRY also offers a variety of menu options to keep guests fueled all year long, from matcha lattes and grab-and-go morning bowls, to bite-sized snacks including peanut butter bites and protein bars,” it said.

“OAKBERRY smoothies will range from $10.00 to $13.00 and include signature smoothies with functional add-ons, as well as protein smoothies offering up to 32g of protein, whereas bowls will range from $12.50 to $19.50 and offer unlimited toppings, each layered between delicious açai. Toppings range from fresh fruits like bananas, strawberries, and blueberries, as well as granola, chia pudding, cacao nibs, and many more healthy options.”

The two confirmed Victoria locations include a 973-square-foot storefront at Tuscany Village Shopping Centre, and a 959-square-foot location on Fort Street in Downtown Victoria.

The brand has over 900 stores, working within the franchise model and is present in more than 42 countries such as the United States, Brazil, the United Arab Emirates, Saudi Arabia, France, Australia, Peru, Spain, and Portugal.

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Daily Synopsis: Mar 9, 2026

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Retail Insider
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Daily Synopsis2

Today’s Retail Insider articles are listed below along with Canadian Retail News From Around the Web. Highlights include First Capital REIT’s plans to turn Edmonton’s Westmount Shopping Centre into a modern open-air complex. Wayfair has launched its Wayfair Rewards loyalty program in Canada to deepen customer engagement. Meanwhile, Foodtastic is rapidly expanding its Noodlebox brand nationwide with plans for Montreal entry. These developments reflect ongoing shifts toward experiential retail, omnichannel loyalty, and nimble real estate strategies across the Canadian market.

 

🗞️ The Day’s Retail Insider Article List

 

🌐 Canadian Retail News From Around the Web

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