Holt Renfrew Closes Three Locations as it Embarks on $300 Million Expansion

Date:

Share post:

Over the weekend, Holt Renfrew closed three of its smaller locations. Yesterday (January 25) the luxury retailer closed its Ottawa and Quebec City stores and on Saturday, January 24, Holt’s shuttered its small Winnipeg shopping suite. Holt Renfrew will now focus on operating larger stores in a handful of Canadian cities, as it embarks on a $300 million expansion which will see its square footage increased by approximately 40%. 

Measuring only 33,000 square feet, Quebec City’s Holt Renfrew was located at the upscale suburban Place Ste-Foy shopping centre. Ottawa’s 36,000 square foot downtown Ottawa location was within the CD Howe Building at 240 Spark Street, and Holt’s 2,990 square foot downtown Winnipeg shopping suite (served by merchandise from other stores) was located within the struggling Portage Place shopping centre. 

Holt Renfrew was founded in Quebec City in 1837 and in the 1980’s had three locations in that city. Holt’s first opened in Place Ste-Foy in 1965. Holt Renfrew’s first Ottawa location opened in 1945 when the company acquired Simons Furs. Holt Renfrew’s first Winnipeg location opened in 1910 on Portage Avenue. 

Holt Renfrew is left with eight stores in five Canadian cities. Holt’s Vancouver flagship spans 140,000 square feet, with plans for a further expansion. Its Calgary store measures about 147,000 square feet, while its Toronto flagship measures over 180,000 square feet (excluding a separate 16,500 square foot men’s store up the street). Its Toronto Yorkdale store is about 120,000 square feet and its Square One Mississauga location, opening in 2016, will be about the same size. Holt’s 84,000 square foot Montreal location will close when a merged 220,000 square foot Ogilvy/Holt’s opens in 2017. 

Holt’s will also continue to operate two smaller locations. Company representatives say that its 33,670 square foot Sherway Gardens store in Toronto will remain open, as will its 35,000 square foot Edmonton Manulife Place store. Given that most Holt Renfrew stores will be in excess of 120,000 square feet, however, some analysts question the future of Holt’s Sherway and Manulife Place locations. Regarding Edmonton, Holt Renfrew president Mark Derbyshire said, “While its business as usual for Holt Renfrew Edmonton for now, we continue to explore options to expand our store presence in the Edmonton market.”

Analysts say that Holt’s focus on its larger and more productive locations is partly a response to Saks Fifth Avenue‘s intention to open as many as seven Canadian stores over the next several years, as well Nordstrom‘s intention to open up to 10 Canadian locations. Upscale menswear retailer Harry Rosen also continues to substantially upgrade its fleet of stores, including several replacement locations.

1 COMMENT

  1. Winnipeg at one time was a larger, full line store. That failed to meet performance expectations and it converted to mainly a clearance location called "Last Call" with the small personal shopping service and cosmetic counter. The clearance outlet itself closed a number of years ago. The departure of Holt’s from downtown Winnipeg and their history in the city put up a large question mark for their future expansion to this city. It also posses a similar question for other retailers like Nordstroms and 5th Ave who might be considered operations in some form in Winnipeg.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More From Retail Insider

Flexible Work Company ‘LAUFT’ Discusses Expansion Plans and New Government Collaboration [Interview]

Founder Graham Wong discusses the Canadian company's plans for new locations, enhanced spaces for events and content creation, and a future in places such as airports and hotels.

Ice Bath Spa Concept ‘Othership’ Opens 2nd Toronto Location with Expansion Plans for Major Markets in Canada and NYC [Interview]

The company's co-founder discusses the concept that began in his back yard in 2019, which is now a big business with a new Yorkville location and plans for Manhattan and other urban centres.

Anatomy of a Leader: Peter Mammas, President and CEO, Foodtastic

The man behind the food empire got started in Montreal where he wanted to be a pilot, then an architect. He eventually worked his way up in the world of foodservice, where he found his passion.

Nostalgia vs Reality: Exclusive Poll Shows Canadians Warm to Zellers’ Return but Hesitate to Shop One Year After Relaunch

Zellers relaunched a year ago as shop-in-stores at Hudson's Bay, and a poll done for Retail Insider shows that Canadians' think the current offerings fall short.

Cracking the Newcomer Code: Study Urges Canadian Retailers to Adapt for Inclusivity as Immigrants Reshape Retail Trends [Feature]

Making newcomers feel at home could mean increased sales for retailers. Ian Large of Leger says retailers should collaborate with communities as Canada's population changes.

Italian-Themed QSR Chain Fazoli’s Announces Major Expansion into Canada with 25 Locations Planned [Interview]

The chain could open even more locations according to its development officer, who discusses Fazoli's success being rooted in quality ingredients and speedy service.

Toronto-Based Fashion Designer Adam X Discusses Inspiration, Retail and Designing for the Future [Video Interview]

Craig and Adam X discuss the the founding and ethos of Adam X Atelier, a Toronto-based haute couture fashion brand which is rare to find in Canada.

Swatch Opens Flagship Store in Downtown Vancouver as it Expands Across Canada [Photos]

It's the 12th store in Canada for the popular Swiss watch brand, which almost doubled its store count in this country in less than a year.

Economic Strains Dampen Montréal’s Retail Growth, But Luxury and Transit Projects Could Spark Revival: JLL Report

Montreal retail has struggled recently and leasing activity has been particularly slow downtown, while a new luxury mall and a growing transit network could help things this year.

IKEA Canada Launches ‘Second-Hand Tax’ Initiative in Protest of Government Policies [Interview]

Ikea dropped the tax on its 'as-is' marketplace, stating that second-hand goods should not be subject to the same taxes as new products.

Significant Variances in Food Price Changes Not Reflected in Statistics Canada Numbers [Op-Ed]

Sylvain Charlebois says that StatCan numbers on food inflation do not reflect the reality of what consumers are seeing at the grocery store.

US-Based Women’s Fashion Brand Windsor Announces First 5 Canadian Stores, Plans National Expansion [Interviews]

The fashion brand is expected to be a runaway success in Canada, with an existing customer base and a void in the market.

Chop Steakhouse Set to Open in Downtown Toronto, Continuing an Influx of New Restaurants to the Financial District [Feature]

Chop Steakhouse is joining a number of new restaurants and dining options that have opened recently in the Financial District, as the area starts the journey back from a pandemic that took a huge toll on the core.

Virtual Reality Arcade Concept ‘Ctrl V’ Expanding in Canada and the US Following Pandemic Setback [Interview]

The world's first and largest VR arcade franchise is opening new locations across Canada and the US, seeking spaces of about 4,000 square feet.

Good Neighbour ‘Lifestyle Department Store’ Expanding with a New Flagship in Toronto’s Summerhill [Interview]

The unique retail concept that launched 10 years ago in Leslieville has grown its offerings with its newest location catering to locals with a range of produces and a beverage lounge.

Anatomy of a Leader: Ian Rosen, President and COO of Harry Rosen

Rosen discusses his life up to becoming head of the luxury menswear retailer, and discusses what's been happening with the family as new leadership emerges.

Mid-Market Retailers in Canada Navigating Challenges and Opportunities as Consumers Shift [Op-Ed]

Jared Gordon discusses challenges facing mid-market retail, such as declining consumer interest and competition from discount and luxury sectors. Mid-market retailers need to adapt to survive he says.

Canada Ranks Highly for Seamless Retail Experience, Embracing Digital and In-Store Integration: KPMG Report

The report says that Canadian retailers are improving blending online and in-store with a majority of Canadians preferring an in-store experience, necessitating seamless channel integration.

Indigo Books & Music to Go Private After Sale to Schwartz-Controlled Holding Company: Expert Commentary

The Canadian retailer is able to turn itself around privately after much public turmoil, according to experts, though its future remains uncertain with limited scrutiny.

Shift in Yorkville Retail as Harry Rosen Prepares to Relocate Bloor Street Flagship [Podcast]

Craig and Lee discuss Harry Rosen's flagship store moving from Bloor Street to Cumberland Street in Toronto's Yorkville, marking a significant shift in the area's retail landscape.

RECENT RETAIL INSIDER VIDEOS

Advertisment

Subscribe to the Newsletter

Subscribe

* indicates required

RECENT articles

Flexible Work Company ‘LAUFT’ Discusses Expansion Plans and New Government Collaboration [Interview]

Founder Graham Wong discusses the Canadian company's plans for new locations, enhanced spaces for events and content creation, and a future in places such as airports and hotels.

Ice Bath Spa Concept ‘Othership’ Opens 2nd Toronto Location with Expansion Plans for Major Markets in Canada and NYC [Interview]

The company's co-founder discusses the concept that began in his back yard in 2019, which is now a big business with a new Yorkville location and plans for Manhattan and other urban centres.

Anatomy of a Leader: Peter Mammas, President and CEO, Foodtastic

The man behind the food empire got started in Montreal where he wanted to be a pilot, then an architect. He eventually worked his way up in the world of foodservice, where he found his passion.

Nostalgia vs Reality: Exclusive Poll Shows Canadians Warm to Zellers’ Return but Hesitate to Shop One Year After Relaunch

Zellers relaunched a year ago as shop-in-stores at Hudson's Bay, and a poll done for Retail Insider shows that Canadians' think the current offerings fall short.

Cracking the Newcomer Code: Study Urges Canadian Retailers to Adapt for Inclusivity as Immigrants Reshape Retail Trends [Feature]

Making newcomers feel at home could mean increased sales for retailers. Ian Large of Leger says retailers should collaborate with communities as Canada's population changes.

Italian-Themed QSR Chain Fazoli’s Announces Major Expansion into Canada with 25 Locations Planned [Interview]

The chain could open even more locations according to its development officer, who discusses Fazoli's success being rooted in quality ingredients and speedy service.

Toronto-Based Fashion Designer Adam X Discusses Inspiration, Retail and Designing for the Future [Video Interview]

Craig and Adam X discuss the the founding and ethos of Adam X Atelier, a Toronto-based haute couture fashion brand which is rare to find in Canada.

Swatch Opens Flagship Store in Downtown Vancouver as it Expands Across Canada [Photos]

It's the 12th store in Canada for the popular Swiss watch brand, which almost doubled its store count in this country in less than a year.

Economic Strains Dampen Montréal’s Retail Growth, But Luxury and Transit Projects Could Spark Revival: JLL Report

Montreal retail has struggled recently and leasing activity has been particularly slow downtown, while a new luxury mall and a growing transit network could help things this year.

IKEA Canada Launches ‘Second-Hand Tax’ Initiative in Protest of Government Policies [Interview]

Ikea dropped the tax on its 'as-is' marketplace, stating that second-hand goods should not be subject to the same taxes as new products.

Significant Variances in Food Price Changes Not Reflected in Statistics Canada Numbers [Op-Ed]

Sylvain Charlebois says that StatCan numbers on food inflation do not reflect the reality of what consumers are seeing at the grocery store.

US-Based Women’s Fashion Brand Windsor Announces First 5 Canadian Stores, Plans National Expansion [Interviews]

The fashion brand is expected to be a runaway success in Canada, with an existing customer base and a void in the market.

Chop Steakhouse Set to Open in Downtown Toronto, Continuing an Influx of New Restaurants to the Financial District [Feature]

Chop Steakhouse is joining a number of new restaurants and dining options that have opened recently in the Financial District, as the area starts the journey back from a pandemic that took a huge toll on the core.

Virtual Reality Arcade Concept ‘Ctrl V’ Expanding in Canada and the US Following Pandemic Setback [Interview]

The world's first and largest VR arcade franchise is opening new locations across Canada and the US, seeking spaces of about 4,000 square feet.

Good Neighbour ‘Lifestyle Department Store’ Expanding with a New Flagship in Toronto’s Summerhill [Interview]

The unique retail concept that launched 10 years ago in Leslieville has grown its offerings with its newest location catering to locals with a range of produces and a beverage lounge.

Anatomy of a Leader: Ian Rosen, President and COO of Harry Rosen

Rosen discusses his life up to becoming head of the luxury menswear retailer, and discusses what's been happening with the family as new leadership emerges.

Mid-Market Retailers in Canada Navigating Challenges and Opportunities as Consumers Shift [Op-Ed]

Jared Gordon discusses challenges facing mid-market retail, such as declining consumer interest and competition from discount and luxury sectors. Mid-market retailers need to adapt to survive he says.

Canada Ranks Highly for Seamless Retail Experience, Embracing Digital and In-Store Integration: KPMG Report

The report says that Canadian retailers are improving blending online and in-store with a majority of Canadians preferring an in-store experience, necessitating seamless channel integration.

Indigo Books & Music to Go Private After Sale to Schwartz-Controlled Holding Company: Expert Commentary

The Canadian retailer is able to turn itself around privately after much public turmoil, according to experts, though its future remains uncertain with limited scrutiny.

Shift in Yorkville Retail as Harry Rosen Prepares to Relocate Bloor Street Flagship [Podcast]

Craig and Lee discuss Harry Rosen's flagship store moving from Bloor Street to Cumberland Street in Toronto's Yorkville, marking a significant shift in the area's retail landscape.