Atlas Tools & Machinery, a staple in Toronto’s power tools retail sector, recently celebrated its 70th anniversary by opening a new flagship store in Vaughan on October 18.
This new store, spanning an impressive 35,000 square feet, will serve as the GTA’s premier destination for tool enthusiasts, contractors, and DIY experts, merging cutting-edge retail design with an immersive shopping experience.
Located at 111 Creditview Road, the Vaughan store brings an innovative approach to tool shopping, featuring a grand showroom with stadium-sized screens, hands-on demo stations, and custom brand displays that showcase Atlas’s extensive expertise. The store also includes the Atlas Café, named in honor of founder Joe Ederman, creating a community atmosphere for customers, said the company.
“Our Vaughan flagship is more than just a store – it’s an experience,” said Shawn Ederman, President and CEO of Atlas Tools & Machinery. “For our 70th anniversary, we aimed to redefine the way people shop for tools. Every detail, from curated new brands to immersive demo stations, is designed to inspire customers.”
As a family-owned, Canadian business since 1954, Atlas said it has built a reputation for quality and service, serving as a trusted source for tradespeople and DIY enthusiasts alike. The Vaughan flagship signifies a new chapter for Atlas Tools & Machinery, bringing a world-class tool shopping experience to the GTA.
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Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past 48 hours.
Grand opening of Koala Insulation in Cambridge, Ontario. Photo: Koala Insulation
Florida-based Koala Insulation, a rapidly expanding leader in eco-friendly insulation services, has launched its first Canadian franchise in Cambridge, providing solutions across the Kitchener-Waterloo region. Local entrepreneurs Justin Prittie and Greg Quaile lead the new franchise, which offers residential, commercial, and industrial insulation services. Koala Insulation’s ambitious expansion in the US has seen over 400 franchises in the United States within four years.
The Cambridge franchise marks the beginning of Koala’s plans to establish 100 franchises in Canada over the next five years, with an initial focus on opening 35 offices in major urban centers outside Quebec.
“The preliminary focus for Koala Insulation in Canada will be on opening and expanding nationally, starting with the Ontario market,” explained Ian Gordon, COO of Koala Insulation Canada. “We are beyond thrilled that our first Canadian franchise location is now a reality and are looking forward to making Koala Insulation the go-to choice for those seeking top-quality insulation and a more healthy and comfortable living environment for everyone, from environmentally conscious homeowners to construction professionals alike.”
Meeting Demand for Sustainable Solutions
Koala Insulation has been recognized for its commitment to providing eco-friendly, energy-efficient insulation solutions tailored to diverse needs. Ranked #147 on Entrepreneur Magazine’s Franchise 500 list and named the #1 New and Emerging Franchise for 2024, the brand’s proven model has resonated with a wide range of customers seeking to improve energy efficiency and indoor air quality.
Co-owner Justin Prittie, a seasoned franchise operator who has led the TWO MEN AND A TRUCK® KCW franchise for 12 years, views this expansion as an opportunity to address the growing demand for home efficiency improvements across Canada. “The vision for Koala Insulation is to become the trusted leader in Canada for residential, commercial, and industrial properties,” said Prittie. “We are excited to bring the brand’s proven model for service excellence to the Kitchener-Waterloo area.”
Cupcakes at the grand opening of Koala Insulation in Cambridge, Ontario. Photo: Koala Insulation
A Strong Partnership with Herity
Koala Insulation’s inclusion within the Herity brand umbrella strengthens its market presence. Herity, a company known for its real estate development and residential building history dating back to 1977, has built a reputation based on trust, innovation, and customer satisfaction. “With Koala Insulation under the Herity umbrella, it has provided an incredible foundation of trust, integrity, and a forward-thinking approach,” said co-owner Greg Quaile. “Herity’s long-standing commitment to quality and innovation empowers us to expand with confidence, knowing we’re part of a larger vision focused on creating sustainable, comfortable living and working environments for customers across Canada.”
Focus on Environmental Impact
The Cambridge franchise aims to deliver high-quality, eco-friendly insulation solutions, improving energy efficiency and reducing greenhouse gas emissions. With growing consumer interest in sustainable living solutions, Koala Insulation is well-positioned to meet this demand. By focusing on reducing energy consumption and enhancing indoor air quality, the brand strives to support environmentally conscious homeowners and commercial clients alike.
Grand opening of Koala Insulation in Cambridge, Ontario. Photo: Koala Insulation
Future Expansion Plans
Koala Insulation’s strategy for Canada is focused on expanding its reach to cover all major markets. With plans to establish 35 offices across Canada outside of Quebec within five years, the brand aims to offer high-quality insulation solutions across a diverse range of needs. The company’s long-term goal is to become a trusted name in Canadian homes and businesses, delivering exceptional service, eco-friendly products, and sustainable solutions.
Monos store on Ossington Avenue in Toronto. Photo: Ste Marie Studio
Monos, a Vancouver-based travel brand known for its minimalist, thoughtfully designed luggage and accessories, has opened its first Toronto store at 111 Ossington Avenue. The new location, situated near Toronto’s Little Portugal, offers a unique and immersive brand experience that aligns with Monos’ core values of mindful travel, sustainability, and cultural connection.
Designed in collaboration with creative studio Ste Marie, the store draws inspiration from the Japanese concept of “mono no aware,” celebrating the beauty in transient moments.
“Ossington felt like the perfect fit for us,” Monos Co-Founder Victor Tam shared in an exclusive interview with Retail Insider. “It’s an area with a vibrant community where people gather, explore, and connect—values that align perfectly with our brand philosophy.” With this latest addition, Monos aims to build brand awareness in Toronto, tapping into the dynamic Ossington neighborhood to engage with new audiences.
Victor Tam
A Multi-Sensory Journey: Blending Design and Local Culture
The design of the Ossington store embodies Monos’ philosophy, offering customers a calming, multi-sensory environment. The space features a central olive tree beneath a custom light installation, surrounded by sculptural plinths of Turkish Rainbow Onyx with flowing water, symbolizing harmony between nature and human experience. Inspired by Little Portugal, the design also includes plastered walls and archways reminiscent of Portuguese architecture, creating a seamless connection between the local culture and Monos’ minimalist aesthetic.
“We wanted people to feel transported as soon as they step inside,” Tam explained. “The Ossington store merges Monos’ DNA of simplicity and serenity with elements from the community around us.” The store design invites curiosity, encouraging visitors to explore each corner while evoking a sense of timelessness and nostalgia.
Monos store on Ossington Avenue in Toronto. Photo: Ste Marie Studio
Sustainability at the Core: Monos’ Environmental Commitments
From its inception, Monos has prioritized sustainability and environmental responsibility. As part of its commitment, the brand joined “1% for the Planet,” pledging 1% of its annual sales to environmental causes, and became certified by Climate Neutral, undergoing annual assessments to reduce its carbon footprint. “For us, sustainability isn’t just about the products we sell; it’s woven into how we operate,” Tam explained. Monos works closely with its manufacturing partners to ensure sustainable practices, using high-quality, durable materials that minimize environmental impact.
“Our goal is continuous improvement,” Tam said. “We believe in a self-audit approach, assessing our carbon footprint yearly and finding ways to reduce it.” These initiatives reflect Monos’ dedication to mindful growth and support its mission to inspire travel that respects both people and the planet.
Monos store on Ossington Avenue in Toronto. Photo: Ste Marie StudioPhoto: Monos
Halo Effect: How Physical Retail Boosts Monos’ Online Presence
Tam noted that the recent opening of the Ossington store has led to an unexpected “halo effect,” significantly boosting Monos’ online sales in Toronto. This effect mirrors the experience Monos observed with its first store in Vancouver, where local e-commerce sales saw a nearly 40% lift. The brand sees this omnichannel impact as an essential aspect of modern retail. “Physical stores allow people to experience the brand in a memorable way, which resonates online as well,” Tam said.
As a digitally native brand, Monos has successfully combined online and offline channels to build brand loyalty, with the Ossington store serving as a powerful touchpoint that brings Monos closer to its community.
Monos store on West 4th Avenue in Vancouver – the first for the company. Photo: Monos
Expanding Beyond Canada: Monos’ Upcoming U.S. Locations
Following its success in Canada, Monos is gearing up for an ambitious U.S. expansion. The brand has already secured five leases across major cities, including New York City, Chicago, Boston, Washington, D.C., and Los Angeles. Each U.S. store will reflect Monos’ design philosophy while embracing the character of its neighborhood. Tam shared that the Chicago location, for instance, will incorporate a cafe and listening lounge, creating what he calls a “hospitality ecosystem” for customers to enjoy.
“In each city, we look for areas with a unique cultural vibe that aligns with our brand,” Tam noted. “We want each location to feel like a thoughtful expression of Monos, with elements inspired by the local area.”
Beyond Luggage: New Product Categories on the Horizon
While Monos has made a name for itself in premium luggage, the brand is expanding into other travel-related categories. It recently introduced limited-edition apparel collections designed for comfort during travel and is exploring additional product lines, including sunglasses and travel-inspired home goods. Tam teased an upcoming product for the home that will tap into sensory experiences, allowing customers to bring Monos’ aesthetic into their everyday environments.
“We see travel as more than just movement—it’s about experiences, memories, and the senses,” Tam explained. “Our goal is to offer products that enhance not only travel but also day-to-day life.” With these upcoming additions, Monos aims to create a deeper connection with customers by offering a lifestyle experience that goes beyond its core products.
Photo: Monos
The Founding Story: Building Monos with Purpose and Passion
Monos was founded by Victor Tam and his childhood friends Hubert Chan and Daniel Shin, who shared a vision to create a brand that reflects their passion for travel and mindful living. With backgrounds in performance marketing and design, the founders brought complementary skills to the table. “We were all at a point in our lives where we wanted to build something meaningful—a brand that we would be proud to be part of,” Tam shared.
Since its launch, Monos has grown steadily, gaining a loyal following of customers who appreciate its high-quality products, minimalist design, and ethical approach. “From the beginning, we wanted Monos to stand for more than just luggage,” Tam said. “Our aim is to inspire mindful travel and create products that resonate with our customers’ values.”
Looking Ahead: Monos’ Canadian and U.S. Expansion Plans
With Ossington now open and plans for Yorkdale Shopping Centre and Calgary’s Chinook Centre in the works, Monos is set to expand its footprint in Canada while simultaneously breaking into key U.S. markets. As the brand continues to grow, Monos remains committed to delivering a unique, multi-sensory retail experience that resonates with local communities and supports its mission of sustainable, mindful travel.
“Our Ossington store is just the beginning,” Tam said. “We’re excited to bring Monos to more cities and explore new ways to connect with our customers, whether they’re shopping online, visiting our stores, or experiencing the Monos lifestyle in their own homes.”
Kate Camenzuli of CBRE represents Monos for its retail expansion in Canada.
Gemlet store at CF Toronto Eaton Centre. Photo: Gemlet
Gemlet, a Toronto-based jewellery brand noted for its personalized and minimalist designs, has opened its new flagship store at CF Toronto Eaton Centre. In an interview with Retail Insider, Founder and CEO Michelle Hung discussed Gemlet’s journey from local pop-ups to permanent locations, how the brand navigated pandemic challenges, and her plans for future expansion. Founded in 2016, Gemlet has built a loyal customer base by offering high-quality, meaningful jewellery that resonates with today’s consumers.
From Pop-Ups to Permanent Retail: Gemlet’s Expansion Across Ontario
Michelle Hung
Gemlet’s early days involved pop-ups across Toronto, with Hung personally setting up at locations like Harbourfront Centre and Kensington Market. Through these events, Hung gathered insights directly from customers, which guided her in crafting pieces that align with market preferences and emerging jewellery trends.
In 2022, Gemlet opened its first permanent store at the Distillery District, followed by locations at CF Sherway Gardens, Union Station, and Upper Canada Mall. Each permanent location began as a temporary pop-up that evolved based on customer demand.
The new flagship at CF Toronto Eaton Centre represents a major milestone for the brand. “This new location allows us to connect with a broader audience and share our unique jewellery with more people,” said Hung.
Resilience During the Pandemic: Pivoting to E-Commerce
Gemlet’s journey to success was not without its challenges. When the pandemic hit in 2020, pop-up events were canceled, and Hung was laid off from her full-time job. Faced with the choice of finding new employment or fully committing to Gemlet, she chose the latter. Hung invested heavily in digital marketing, including Facebook and Instagram ads, to reach customers online. “Building an online presence became essential for survival,” she explained. “It was our online sales that kept us going through those difficult months.”
This pivot to e-commerce also positioned Gemlet for growth, attracting customers who have remained loyal and helped spread the brand’s message online. Today, Gemlet’s presence on social media platforms like TikTok and Instagram is a crucial part of its outreach strategy, driving engagement and introducing new audiences to the brand.
Gemlet store at Upper Canada Mall in Newmarket. Photo: Gemlet
Filling a Unique Niche with Gold-Filled Jewellery
Gemlet’s distinctive focus on gold-filled jewellery sets it apart in the competitive jewellery market. Gold-filled pieces offer customers an affordable yet durable option, containing around 10% gold and sourced from reputable U.S. suppliers. Unlike traditional gold plating, which often fades quickly, gold-filled pieces are waterproof and made to withstand daily wear. “Our customers want jewellery that lasts but doesn’t carry the high price tag of solid gold,” said Hung.
This commitment to quality resonates with shoppers who are looking for pieces they can wear every day without worrying about tarnish. Hung’s decision to use only high-quality materials underscores Gemlet’s dedication to value and durability, helping to build long-term customer loyalty.
Hung said that the brand is introducing solid gold pieces in store for the Holiday season as Gemlet addresses consumer demand.
Gemlet store at the Distillery District in Toronto. Photo: GemletInside a Gemlet store. Photo: Gemlet
Permanent Bracelets: A Symbol of Lasting Connections
One of Gemlet’s most popular offerings is its permanent bracelet experience, where bracelets are custom-fitted and welded directly onto the wearer’s wrist, symbolizing a lasting bond. “It’s a meaningful experience to share with someone special,” said Hung. Permanent bracelets have become popular among friends, couples, and families as a way to celebrate significant relationships.
This concept has captured attention on social media, especially on platforms like TikTok and Instagram, where customers frequently share videos of the experience. The personalized, permanent bracelets have added an emotional element to Gemlet’s offerings, creating a special connection between the brand and its customers.
Permanent bracelet being put on a customer. Photo: Gemlet
The Charm Bar Experience: Jewellery with a Personal Touch
Gemlet’s stores also feature a unique “charm bar” experience, where customers can choose from a wide selection of charms to create personalized jewellery pieces. Charms range from symbols of hobbies and interests, such as paintbrushes and zodiac signs, to charms that mark milestones and personal stories. “We wanted to offer jewellery that represents each customer’s journey,” Hung shared. “Our charm bar allows customers to create pieces that are truly their own.”
Charms at Gemlet. Photo: Gemlet
In-Store Experience: Hosting Events at CF Sherway Gardens
Gemlet’s focus on creating personalized experiences extends to its physical stores, particularly at CF Sherway Gardens. This location features a private room where customers can book events, including birthdays, corporate gatherings, and friendship celebrations. Guests can enjoy champagne and explore Gemlet’s charm bar with friends in an intimate setting, making it a memorable experience.
“Our brand is about creating special memories for our customers,” Hung explained. “We want our stores to be places where people connect, celebrate, and leave with something meaningful.”
Gemlet store at CF Sherway Gardens. Photo: Gemlet
Licensing and Future Expansion: Bringing Gemlet to New Markets
With five permanent locations in the Greater Toronto Area, Hung has ambitious plans for Gemlet’s growth. Gemlet is currently exploring opportunities to expand beyond Ontario, with potential new stores in Vancouver, Calgary, and Edmonton. “We’ve had a lot of interest from customers outside Toronto, so expanding to new markets is our next step,” Hung said.
In addition to physical expansion, Gemlet is working on licensing agreements to introduce limited-edition charm collections. These collaborations could allow Gemlet to offer exclusive charms that resonate with broader audiences, similar to how major jewellery brands partner with popular franchises for themed collections. “We’re excited about the opportunity to bring new dimensions to our jewellery,” Hung revealed, hinting that licensed charm collections could be on the horizon for Gemlet.
Gemlet store at Union Station in Toronto. Photo: Gemlet
Gemlet’s Commitment to Community and Customer Loyalty
Gemlet’s growth has been fueled by strong support from the Toronto community and a loyal customer base that values quality, affordable jewellery. Starting with local markets and pop-ups, Gemlet has built a following of repeat customers who trust the brand’s commitment to durability and personalization. “Gemlet wouldn’t be what it is today without the support we’ve received,” said Hung, emphasizing the importance of community in the brand’s journey.
Donald Trump, 47th President of the United States. Photo: Getty Images
As Canadians recall the shock of Donald Trump‘s first presidential victory, it appears that history may be poised to repeat itself. Trump’s return to the White House—whether welcomed or not—would undeniably be a pivotal moment. Yet, this time, Canadians might approach the prospect with more reservation, reflecting on the changes his first term brought to our shared economy and agri-food trade.
Canada’s Economy Under Trump’s First Term
During Trump’s first administration, Canada performed reasonably well economically, even amid intense political rhetoric and policy shifts. Our GDP per capita grew by 6.3%, a figure far more robust than the stagnant growth we’re seeing today. The agri-food trade between Canada and the U.S. also flourished, growing by almost 20% from 2016 to 2020. Despite the “America First” focus, our food sector benefited from stronger cross-border trade—a trend that may continue, though with potentially higher stakes.
However, Canadian farmers now face a more challenging landscape. Trump’s campaign pledges include reducing costs for American farmers, aiming to boost competitiveness, while Canadian agricultural costs have risen steadily. Since 2019, Canada’s wholesale food prices have increased almost 40% more than in the U.S., putting Canadian producers at a disadvantage and complicating their ability to compete. A second Trump administration could widen this gap further, intensifying the pressures on our agricultural sector.
Environmental Policies and Trade Tensions
Environmental policies could also become a significant source of tension. Under his first term, Trump rolled back more than 100 environmental regulations, many of which were reinstated by President Biden. If Trump resumes office, Canada’s carbon tax—already controversial—may strain cross-border trade dynamics. Since 2019, Canada’s carbon tax has grown from $20 per tonne to a projected $95 per tonne by 2025, drastically increasing the cost burden on Canadian agriculture. Trump’s less restrictive environmental stance could give American farmers a cost advantage, leaving Canadian agriculture facing higher operational expenses.
Additionally, Trump is likely to support an updated almost $2 trillion Farm Bill, bolstering U.S. crop insurance, subsidies, and agri-food research to counter China’s global influence. With China tensions simmering, Canada may have to navigate this increasingly competitive and politically fraught landscape carefully. The likelihood of higher ethanol production and a continued hard line on Chinese tariffs, policies that the Biden administration largely upheld, underscores that Canada’s alignment with U.S. agricultural strategies will be critical to avoid potential trade disruptions.
In global trade, the stakes are equally high. The BRICS nations (Brazil, Russia, India, China and South Africa) are strengthening their alliances to counterbalance Western influence, and a more isolationist U.S. approach under Trump could force Canada to choose its alliances carefully. This strategic recalibration won’t be easy, as Canada’s role as a middle power may come under strain in a world more polarized between competing economic blocs.
Potential North American Trade Shifts
On North American trade, Canada must confront a transactional approach from a Trump-led U.S., one that may bring both predictability and hard-nosed negotiations. Trump’s proposed renegotiation of the North American trade agreement could mean that sensitive areas like dairy will return to the bargaining table. Bill C-282, which would protect Canada’s supply management systems from future trade deal concessions, might be an early casualty. If enacted, Canada could face immediate pressure from the U.S. to scrap the legislation, complicating efforts to safeguard our agri-food sector’s unique protections.
Canada’s agri-food industry stands at a crossroads, where costs, environmental policy, and geopolitical pressures intersect. While Trump’s return might yield certain economic benefits, it would also challenge Canada’s trade policies, cost structures, and environmental standards. Canada’s agri-food stakeholders will need to prepare for complex adjustments with Trump’s second presidency.
Cineplex Inc. reported solid financial results for Q3 2024, showcasing resilience and growth in key performance metrics despite ongoing challenges. The Canadian entertainment giant achieved $395.6 million in revenue, surpassing pre-pandemic Q3 2019 revenue of $373.7 million. This success was driven by strong box office performance, robust food and beverage sales, and growing media and digital revenue streams.
Revenue and Earnings Overview
For Q3, Cineplex reported an adjusted EBITDAaL of $47.5 million, though its net loss from continuing operations totaled $24.7 million. This loss included a one-time $39.2 million provision related to a Competition Tribunal fine—currently under appeal—over the company’s online booking fees.
Ellis Jacob
Cineplex’s President and CEO, Ellis Jacob, remains optimistic: “Our third quarter saw a steady stream of diverse film content, driving audiences into our theatres and enabling us to exceed 2019 revenue levels.”
Cineplex set records for per-patron spending, with Box Office Per Patron (BPP) at $13.19 and Concession Per Patron (CPP) at $9.85, marking all-time quarterly highs. These figures reflect increased consumer spending and Cineplex’s strategic emphasis on enhancing the in-theatre experience, it said in a news release.
Media and Digital Growth
The company said its media segment showed marked improvement, with Digital Place-Based Media revenue reaching $13.3 million, a 40.3% year-over-year increase. This growth comes from expanding its digital-out-of-home networks, including the recent accreditation from the Canadian Out-of-Home Marketing and Measurement Bureau (COMMB), which positions Cineplex’s mall network as a leader in audience measurement standards.
Strategic Expansions and New Ventures
The company is progressing with its Location-Based Entertainment (LBE) strategy, preparing to open three new entertainment venues and one theatre by year-end. These additions will solidify Cineplex’s footprint as a top entertainment provider across Canada. Enhancements to current locations, such as upgrading The Rec Room in Edmonton, reflect the company’s ongoing investment in its LBE venues.
Community Initiatives and Loyalty Program Growth
Cineplex also highlighted its community engagement initiatives, including a donation to Tipi of Hope Foundation on National Day for Truth and Reconciliation and fundraising for BGC Canada through its annual Community Day. The Scene+ loyalty program saw further growth, with membership surpassing 15 million, underscoring Cineplex’s strong customer retention.
Looking Ahead
Despite some challenges, including the ongoing appeal related to the Competition Tribunal’s ruling, Cineplex remains focused on expansion and innovation. Jacob emphasized confidence in the company’s unique position: “Our market leadership, diversified business model, and robust consumer data will enable us to capitalize on an exciting upcoming film slate.”
With these results and strategic initiatives, Cineplex said it is well-positioned to leverage its entertainment portfolio and consumer engagement strategies to drive future growth in Canada’s competitive entertainment industry.
And there’s plenty of speculation of what could happen in the market as well with Hudson’s Bay and Saks Fifth Avenue in the future.
Darryl Schmidt
“Overall we’re feeling very good about the market. Vacancy is down. We’re probably sitting at about 92, 93 per cent occupied in our portfolio coast to coast – even a little bit better in the Calgary marketplace. Demand is strong. As interest rates have started to slack off in the U.S. and Canada in the last six months, we’re seeing an influx of new brands wanting to come into the Canadian marketplace, coming to Western Canada,” said Darryl Schmidt, Vice President of National Leasing for Cadillac Fairview.
YETI at CF Chinook Centre (Image: Mario Toneguzzi)
“Yeti opened very strong in Chinook which has been good. We’ve been able to use that as a bit of a calling card when we’re talking to other U.S. brands because that’s the first international store for them. The first to market in Canada. The first to market in Canada. We’re feeling good about where the market’s at right now.”
At Cadillac Fairview’s Chinook property, Schmidt said that in addition to Yeti, Anne Louise Jewellers has come back to the mall, Lugaro Jewellers is under construction, Kiokki (Asian cosmetic chain) opened two weeks ago and is killing it.
“In early 2025 we will welcome a freestanding Omega store beside Louis Vuitton (in current APM Monaco location) and Ray Ban on the upper level (former Pandora location),” he explained.
“We’re more in a bit of a lull right now because we touched almost 250,000 square feet in the last 24 months. So we’re doing a lot of repositionings for late 2025, early 2026. You’re going to see Shoppers Drug Mart expand. You’re going to see a repositioning of Old Navy, Gap and then adding in net new brands into the asset. But really it’s a little bit of a lull. The calm before the storm before we reset a number of brands.”
Arc’teryx at CF Market Mall (Image: Arc’teryx)
At Cadillac Fairview’s Market Mall property, he said Vena Nova, a new jewelry concept opened recently replacing Birks, Carter’s Osh Kosh is under construction as is housewares brand Zwilling Henckels.
“You’ve seen more athleisure concepts open. We had a strong opening from Alo Yoga, you’re going to see potential expansion of Arc’teryx. We’ve got a repositioning. The Gap is going to move within the asset and get right sized. We’ve transacted a deal to replace Moxie’s and we should be in position to announce that (soon). We’ve done a couple of jewellery deals and fashion accessories. We’ve got two deals with Lovisa in both Chinook and Market Mall. We’re also very close to putting the finishing touches on Miniso which is an Asian dollar store concept in Market Mall and we’re in negotiations in Chinook as well.”
What is he hearing about retailer Saks, which has a store in Chinook?
Saks Fifth Avenue on the lower level of CF Chinook Centre. Photo: Jessica Finch.
“There’s some warning signs about HBC and Saks. They’re not maintaining the vertical transportation in the stores. They’re not maintaining the heating and air conditioning in their stores. They’ve had issues with suppliers in terms of payment of suppliers. So they’ve got limited inventories in the stores heading into the critical fourth quarter,” said Schmidt.
“They’ve been alienating some of their third-party vendors who do shop in shops within the stores and we’ve been beneficiaries of that. We’ve been able to take some brands like Nespresso and Levi’s out of The Bay and place them into our shopping centres.
“Without speculating too much there’s a lot of warning signs as to the health of both brands.”
Cadillac Fairview sees good traction with quick casual food concepts
Schmidt said the Canadian market has experienced good traction with quick casual food concepts coming into the marketplace from the U.S. Chick-fil-a, Chipotle, Shake Shack.
“You’re going to see some really positive outcomes with those banners in the next 12 to 18 months. Quick casual food is strong. Athleisure is strong. We’re starting to see some better quality of women’s fashion concepts coming into the Calgary marketplace and that’s a function of the closure of Nordstrom,” he said.
“So I think it’s safe to say in the next 12 to 18 months you’re going to see the likes Reformation, Veronica Beard, Anine Bing. All would make the ladies of Calgary very happy. Health and beauty continues to really resonate. Sephora is performing at all-time highs. Kiokki opening at Chinook. There’s other Asian beauty concepts like Sukoshi that are looking in the market and some other Asian beauty concepts that are currently in Australia and the U.S. that are starting to sniff in the market. I don’t know what the saturation point is on that. We can only handle so much but health and beauty is still very, very strong.”
Schmidt said development potential for other real estate use on Market Mall is still in the entitlement process. Chinook went through that process years ago.
“So we’ve got the capability to add multi-family residential, add more office, even add more retail. We have to wait for the market to get to the point where the construction costs and the sales prices are right so we can put shovels in the ground and bring some of those towers out of the ground. It’s a little premature but all the pieces of the puzzle are there, it’s just a matter of the timing of the market,” he said.
Kehoe recently shared his insights, expressing optimism about the country’s evolving retail landscape.
MICHAEL KEHOE, RETAIL SPECIALIST WITH FAIRFIELD COMMERCIAL REAL ESTATE IN CALGARY
“It’s an exciting time in the retail industry in Canada,” Kehoe said, describing a sector brimming with new developments and a distinct split in consumer demand between affordability and luxury.
“We see tremendous polarization, with strong growth in both the value and luxury sectors,” he explained. This divergence, he believes, reflects a clear response to shifting consumer preferences.
While retail giants are making strides by focusing on affordable, value-driven merchandise, the luxury sector is also flourishing. Canada’s high-end retail is no longer confined to traditional shopping districts like Toronto’s Yorkville, Vancouver’s Burrard Street, and Yorkdale Shopping Centre.
Kehoe noted, “We’re now seeing luxury clusters emerge at locations such as West Edmonton Mall, Calgary’s Chinook Centre, and Montreal’s upcoming Royalmount.” Additionally, Vancouver’s Oakridge Park is set to bring another robust luxury node to the West Coast.
In Alberta, Kehoe highlighted an impressive surge in the food service sector, particularly in sit-down and quick-service restaurants.
“With strong population growth and good disposable income in Alberta, full-service restaurants are thriving, and quick-service chains are expanding significantly,” he said.
However, Kehoe cautions that retailers without a clearly defined brand identity may struggle. He noted that the middle market, lacking a unique value proposition, could face significant challenges.
“If you’re in that ‘mushy middle,’ you’re vulnerable,” he stated. To succeed, Kehoe advises brands to “define your target market, dominate your category, and go after your customer with confidence.”
The mood among retail professionals has been largely optimistic, Kehoe observed, especially following the recent ICSC conference in Toronto, where leasing activity was strong.
“Deal sentiment was extremely positive, with active discussions on leasing transactions across enclosed malls, grocery-anchored retail centers, and main street retailing,” he said.
Kehoe expects new store openings to ramp up significantly by the second and third quarters of 2025.
Still, Kehoe acknowledged that retailers are navigating a landscape of rising costs, from rent and labor to utilities, contributing to heightened uncertainty. He predicts that as the holiday season approaches, affordability will remain a core concern for Canadian consumers.
“This year, I think consumers are going to be guarded, focusing on value-driven merchandise and experiences,” he said.
Ultimately, despite the challenges, Kehoe expressed optimism about the season ahead.
“There’s a lot of noise out there, and standing out is essential,” he emphasized. “Whether in retail or food service, you have to make your statement, differentiate, and capture consumer attention.”
As Kehoe sees it, Canada’s retail industry has solid momentum, bolstered by a steady influx of young talent, ongoing development projects, and an expanding luxury market. All signs, he said, point to a strong finish for Canadian retail as it heads into a competitive and promising holiday season.
