There is tremendous change occurring in the Canadian retail scene with even more on the horizon, so it is interesting to at least speculate on what this might mean for metro Moncton.....
- Sears has already sold some of it's leases to
Nordstrom and they will be coming to Canada in the next couple of years. In addition to about seven full fledged department stores, they may open up to 25
Nordstrom Rack stores nationwide.
- The Hudson's Bay Company is purchasing
Saks Fifth Avenue and will also likely open 6-8 full fledged Saks stores in Canada, with about 20
Saks Off Fifth outlets anticipated.
- Hudson's Bay is also planning on rolling out
Hudson's Bay Outlet stores nationwide too.
-
Les Maison Simons (and to a lesser extent)
Holt Renfrew are in expanson plans nationwide too. Holt Renfrew will be competing with Saks Off Fifth and Nordstrom Rack with their
HR2 brand.
- Now we hear that there will be further change at Sears, with either further sale of leaseholds to Nordstrom, sale of the whole chain to
Macy's/Bloomingdale or a combination of the two.
At the end of the day, it appears that Canada will soon have a selection of main department store chains nationwide:
- Hudson's Bay Company
- Les Maison Simons
- Holt Renfrew
- Nordstrom
- Saks Fifth Avenue
- Macy's
- Bloomingdales
What will this mean locally? The main speculation will be over what will happen to the Sears location at Champlain Place.
If Macy's/Bloomingdales chooses to purchase the majority of Sears Canada then I imagine that the Champlain Place store would likely be converted to Macy's. If on the other hand a Macy's takeover of Sears is more limited, then I would think that the chances of Hudson's Bay taking over the Champlain Place store to replace their former location at Highfield Square is very likely. Either way, it will be an improvement for Champlain Place.
Otherwise, given the extent of the anticipated rollout of Nordstrom Rack, Saks Off Fifth, HR2 and Hudson's Bay Outlet, we might see one or a couple of these cropping up in the metro area at one of the power centres.
The next few years may be quite interesting on the retail front......