Winnipeg | Retail

[Mr Tall Forehead]

First Uniqlo, now Abercrombie...so much for the 'expert' proclamation that Polo was a dying mall.

[neutroniks]

Originally Posted by Mr Tall Forehead

First Uniqlo, now Abercrombie...so much for the 'expert' proclamation that Polo was a dying mall.

Uniqlo on opening day will have a line that will stretch past Sephora, for sure

[BAKGUY]

Originally Posted by Mr Tall Forehead

First Uniqlo, now Abercrombie...so much for the 'expert' proclamation that Polo was a dying mall.

So many armchair quarterbacks these days, know it alls.
For the investor, Retail is a guess like eateries but Polo Park is no dying Mall.
Just like when I confront those who say Nobody goes downtown anymore.
I ask them if they never attend Canada life centre. MTC, concert Hall, Baseball games, The Exchange district, Theatres, Several Museums, The Forks, Convention centre events, interesting dining places, clubs, bars etc..and remind them they are downtown and that most cities having lost department stores as a draw, have less shopping than before. We also have way too many suburban strip malls

[trueviking]

In the 2024 ICSC rankings, CF Polo Park is recognized for its strong performance, ranking 12th in Canada with sales per square foot of $1,120.

[trebor204]

I notice that Toy R' Us is closing their St Matthews (Polo Park) location, leave only the Regent location as the only location left in the city.

[bomberjet]

There was an article recently. Them and parent company are nearing bankruptcy. Last effort is to close locations. The regent store recently opened their play structue party space thing. I forget what its called.

[jim_bred]

Originally Posted by trebor204

I notice that Toy R' Us is closing their St Matthews (Polo Park) location, leave only the Regent location as the only location left in the city.

Unfortunately that area around the old Target isn't doing so hot at all.

[Mr Tall Forehead]

Originally Posted by jim_bred

Unfortunately that area around the old Target isn't doing so hot at all.

That’s more of an observation on Shindico than Polo Park.

[CoryB]

Abercrombie is one of many ghost retail brands. A few companies, including the one that currently owns Abercrombie, realized they had substantial holdings in retail properties and when chains such as this one go bankrupt it was becoming increasingly difficult to fill those spaces. The more gaps they had in their retail properties the harder it became to attract and retain actual profitable tenants, for example the Apple Store.

That is definitely happening in Polo Park.

Another interesting observation is Reitmans is back in the mall after being told some years back their banners were not welcome in the mall even though the company very much wanted to remain in the mall. The stores relocated to locations near by outside of the mall and operated for many years there. I guess when you are desperate any warm body will do.

PS Reitmans itself went through bankruptcy in the Pandemic and barely made it out the other side as a going concern.

[pegster]

Uniqlo is a great thing. Good quality, mid-priced clothes that fill the gap left by... The Gap, since they left Polo.

Not sure how to feel about a Dollar Tree in that prominent Osborne Village location, next to Crumb Queen. There is already a Dollarama at Confusion Corner.

[Winnipeg Grump]

I think ghost retail is being used incorrectly here. ANF is a publicly traded company and definitely NOT owned by single 'shadowy' enterprise. There are hedge funds that hold part of ANF but it's not like they're a single unit in some private equity outfit's holdings.

Ghost retailing can refer to firms looking to expand into some bricks and mortar spaces but not having the various internal resources available to take that on so they hire out specialty firms (ghost retailers) to take on that work for them.

That's not to be confused with 'ghost stores' which are dark stores associated with online only platforms looking to have a physical presence solely for order pickup, a la ghost kitchens.

Whatever description you want to go with, I'm pretty sure a listed company isn't meeting that definition.

[Kris22]

Originally Posted by pegster

Not sure how to feel about a Dollar Tree in that prominent Osborne Village location, next to Crumb Queen. There is already a Dollarama at Confusion Corner.

Agreed, it’s nicer to have dollar stores slightly removed from prominent high streets like the dollarama currently is. I get that there is a market for them but one of my gripes is they tend to have the biggest, most obnoxious signage on the strip. It’s totally unnecessary.

[bon_vivant]

I never cared for Abercrombie but I'm looking forward to Uniqlo.

[CoryB]

Not all retail is treated equally.

https://www.cbc.ca/news/canada/toronto/yorkdale-mall-fairweather-hudson-s-bay-9.7053756

[bon_vivant]

Originally Posted by CoryB

Not all retail is treated equally.

https://www.cbc.ca/news/canada/toronto/yorkdale-mall-fairweather-hudson-s-bay-9.7053756

Interesting read. I tend to side with the mall. I've never been there, but if they have a high-end reputation then I can see how a store that is perceived as lesser could endanger it, resulting in lost revenue over time. I can only guess that Polo Park doesn't have the same concerns, allowing stores like London Drugs and Dollarama to be there. But this is Winnipeg, not Toronto. Speaking of London Drugs at PP, I don't like it. It feels very sparse and unfinished compared to the St. Vital store and other locations I shopped at in Vancouver. The buildout looks like it was rushed, as it did seem to open a lot sooner than I expected.

[CoryB]

Originally Posted by bon_vivant

Interesting read. I tend to side with the mall. I've never been there, but if they have a high-end reputation then I can see how a store that is perceived as lesser could endanger it, resulting in lost revenue over time. I can only guess that Polo Park doesn't have the same concerns, allowing stores like London Drugs and Dollarama to be there. But this is Winnipeg, not Toronto.

But that is just it, CF and Polo Park have very publicly pushed out more than a few tenants in the past for not being up to the standard of the mall. Some of those same tenants are back in the mall and other lower end tenants, like Dollarama, are now in the mall. At least the mall has yet to sink the the level of having retails straight up selling Shein clothing and being so open about it they don't hide the name but rather attempt to use it as a brand name to actively attract customers. Gut feel though says it won't be long.

[bomberjet]

Originally Posted by bon_vivant

Interesting read. I tend to side with the mall. I've never been there, but if they have a high-end reputation then I can see how a store that is perceived as lesser could endanger it, resulting in lost revenue over time. I can only guess that Polo Park doesn't have the same concerns, allowing stores like London Drugs and Dollarama to be there. But this is Winnipeg, not Toronto. Speaking of London Drugs at PP, I don't like it. It feels very sparse and unfinished compared to the St. Vital store and other locations I shopped at in Vancouver. The buildout looks like it was rushed, as it did seem to open a lot sooner than I expected.

Give it time before LD crams every possible area with junk! I've been there and didnt mind it. But i dont usually shop at LD. We used the photo centre for a couple prints at Christmas.

[bon_vivant]

Originally Posted by bomberjet

Give it time before LD crams every possible area with junk! I've been there and didnt mind it. But i dont usually shop at LD. We used the photo centre for a couple prints at Christmas.

Lol. I guess I'm just used to LD being crammed full of stuff. The PP location seems stark in comparison.

[laumag]

Originally Posted by bon_vivant

Lol. I guess I'm just used to LD being crammed full of stuff. The PP location seems stark in comparison.

Never Fear ... Zellers is near ... Here we go again ... Zellers 3.0

"Quebec-based retailer Les Ailes de la Mode acquired the Zellers trademarks from the Hudson's Bay Company and then opened the first new store in Edmonton."

[Ozabald]

Originally Posted by bon_vivant

Lol. I guess I'm just used to LD being crammed full of stuff. The PP location seems stark in comparison.

As you mentioned in an earlier post, you have shopped at London Drugs in Vancouver. Do you recall which location(s)? Many of the older LD stores in Vancouver have small floor plates, resulting in things feeling cramped. As an example, the LD store on Davie St. by English Bay is tiny and cramped. Perhaps the LD store in Polo Park has the same amount of product over a larger floor space. With retail rents quite high in Vancouver vs. Winnipeg, the outcome is small and cramped vs. large and stark.