The Metro Vancouver Retail Thread

[bjan]

Originally Posted by Prometheus

Thanks for the tip. I wonder what is going in the remaining units at The Carlyle across the street.

From a pretty good source, it's Prada and Miu Miu.

[Vin]

Originally Posted by WarrenC12

I think that Marine Dr. complex is waiting on all the development at Cambie and Marine to finish. If nothing improves in the following 12 months I would expect closures.

I'm surprised Target called it quits so fast. Like they didn't even try.

You can't 'try' anymore if you max out your credit limit.

[Joat]

Originally Posted by NetMapel

It would have been pretty sweet if Nordstrom Rack come in just in time to take over Target in the Metrotown space... but alas, that probably won't be the case

I went to the nordstrom rack in downtown Seattle and didnt get what the big deal is. The selection and prices didn't seem particularly good.

[SpongeG]

there was so much i wanted at the rack when i was down there two weeks ago. stock varies from store to store.

Its good for shoes and accessories, you really have to look and know your prices and brands.

If you shop a lot you would know the prices of what you shop for it sounds expensive but $49 for a 100% cashmere jack spade toque is a pretty good deal, i've never seen it priced under $100 online.

If you are just going in blind you probably won't find anything.

when i was there they had some OBEY sweatshirts for $18.99 thats pretty cheap

[officedweller]

Originally Posted by Joat

I went to the nordstrom rack in downtown Seattle and didnt get what the big deal is. The selection and prices didn't seem particularly good.

Agreed. Nordstrom Rack is still relatively expensive - i.e. $45.00 for a dress shirt. I don't know if they have clearance sales, though.

Saks Off 5th definitely does have sales - so while their regular outlet price may be $45.00, they'll have regular discounts on top of that. i.e. suits buy one get one free or an additional 50% or 70% off. That's more the Canadian model of clearance sales and discounts.

I wonder if HBC may open up Saks Off 5th in any of the Target locations (i.e. Metrotown)?

I wonder if Sears - since it is closing the Richmond Centre store - could negotiate a cheap lease rate for part of the Target space at Lansdowne?

[SpongeG]

when i was at nordstrom rack they were having their clear the rack sale - which meant an extra 25% off red tagged items (dec 26 - jan 4)

I don't know how often they have that kind of sale, its the only time i've actually ever seen a sale at the rack

most of the stuff i saw was pretty expensive to begin with a lot of marc by marc jacobs - normal prices for that line are like $300 for a sweatshirt, so to find it around or just under $100 is a good deal

[officedweller]

Nordstrom was famous for not having sales - just 2 semi-annual sales each year. But they have changed that policy and will have smaller sales throughout the year - but they wont have the big "blow-out" sales that Canadians are used to.

That'll be one difference in the retail culture - Canadians like their bargains.

[SpongeG]

canadians are so cheap

[SpongeG]

found a pic of the richmond hudson's bay renovation - this shows the new kiehls, it took the space where MAC cosmetics was which has moved to a new spot


modernmixvancouver.com

[connect2source]

Originally Posted by WarrenC12

I think that Marine Dr. complex is waiting on all the development at Cambie and Marine to finish. If nothing improves in the following 12 months I would expect closures.

I'm surprised Target called it quits so fast. Like they didn't even try.

Despite going down as the biggest failure in Canadian retail history, Target could not see making a profit until 2021 hence closing all locations was far cheaper than operating 133 stores at a loss for another 5 years.

The market liked it as the stock was up yesterday and losses company-wide will be curbed in 2015 as a result of the Canadian closures.

[WarrenC12]

Originally Posted by connect2source

Despite going down as the biggest failure in Canadian retail history, Target could not see making a profit until 2021 hence closing all locations was far cheaper than operating 133 stores at a loss for another 5 years.

The market liked it as the stock was up yesterday and losses company-wide will be curbed in 2015 as a result of the Canadian closures.

Well, I would imagine there could be some middle ground. As some analysts have mentioned, many of the locations that they bought were not typical target (pardon the pun) areas, demographics, and didn't meet the same design specs as their US stores.

They were also fooled by the publicity of the cross-border shoppers, many of which were probably the first to turn on them.

But, they could have scaled back massively to the stores that fit their model of success and tried to slowly expand from there. With this decision, it's likely we'll never see them again, and I'd be surprised if they expand to any other country in the world. Long term growth doesn't look very probable.

I think there's room in Canada for some competition to Walmart... but I don't know what form that will take.

[s211]

Originally Posted by Joat

I went to the nordstrom rack in downtown Seattle and didnt get what the big deal is. The selection and prices didn't seem particularly good.

For real deals, ignore most of the store and just peel through the clearance racks. last year, I got the most amazing Canali sport coat $2400 retail for only $300.

Yes, most of their stuff ends up looking up like faux-clearance, the sort of stuff you see at outlet malls which isn't marked-down clearance stuff, but instead inferior quality versions of branded product at lower asking prices. For example, I'd never by the usual Boss-branded shirts that are in frequently large stock at the Rack. They have inferior fabrics and workmanship.

[SpongeG]

some of the stuff at the rack is definately intended to end up there at not at the nordstrom store.

sort of related I was reading a blog a couple weeks ago and was talking about what i think most people know, clothes at outlet stores are made for outlet stores, like gap factry store, coach factory store, polo etc.

the also wrote about something i didn't know, tj maxx/winners has licensing deals with some brand names, they mentioned five, calvin klein was the only i can remember, where TJ maxx gets clothes made with the Calvin Klein label for its own stores so the price they show was never real so its not the bargain consumers think it is ie. compare to $399.99 our price $199.99. the $399.99 price never existed, calvin klein gets something like 5% out of the deal.

[Klazu]

Originally Posted by WarrenC12

They were also fooled by the publicity of the cross-border shoppers, many of which were probably the first to turn on them.

Will be very interesting to see latest cross-border shopping number. The weak loonie must be having a major impact on shops in Bellingham and boosting business this side of the border! Last time I was in Seattle was in December I found shopping there being expensive after I seeing the converted CAD prices on my credit card later on...

Target really had the worst possible time to make their try here in Canada with high loonie and record cross-border shopping numbers. This is why I find their pull out of Canada a very hasty-looking decision or then their business here was really bad.

Some executive heads must have been rolling at Target this week...

[Whalleyboy]

Originally Posted by officedweller

Agreed. Nordstrom Rack is still relatively expensive - i.e. $45.00 for a dress shirt. I don't know if they have clearance sales, though.

Saks Off 5th definitely does have sales - so while their regular outlet price may be $45.00, they'll have regular discounts on top of that. i.e. suits buy one get one free or an additional 50% or 70% off. That's more the Canadian model of clearance sales and discounts.

I wonder if HBC may open up Saks Off 5th in any of the Target locations (i.e. Metrotown)?

I wonder if Sears - since it is closing the Richmond Centre store - could negotiate a cheap lease rate for part of the Target space at Lansdowne?

Thats one of the few targets I'm really interested in seeing what will take its place. Seeing how the only way to the second floor is in the store itself. The one in central has two floors but both have entrances so it could be split. Target in Lansdowne either will have to have a major reno of some sort or another big store move into it.

[NewfBC]

Originally Posted by Whalleyboy

Thats one of the few targets I'm really interested in seeing what will take its place. Seeing how the only way to the second floor is in the store itself. The one in central has two floors but both have entrances so it could be split. Target in Lansdowne either will have to have a major reno of some sort or another big store move into it.

Richmond is one location where Walmart will not move in. They're building a new store a block or 2 away.


Ron.

[Caliplanner]

Originally Posted by Whalleyboy

Thats one of the few targets I'm really interested in seeing what will take its place. Seeing how the only way to the second floor is in the store itself. The one in central has two floors but both have entrances so it could be split. Target in Lansdowne either will have to have a major reno of some sort or another big store move into it.

What will happen now that Target is exiting Canada??? Which chain will most likely take their place???

[Klazu]

Originally Posted by Caliplanner

What will happen now that Target is exiting Canada??? Which chain will most likely take their place???

http://www.cbc.ca/news/business/target-c...dlords-with-vacant-real-estate-1.2913138

[officedweller]

Originally Posted by Whalleyboy

Thats one of the few targets I'm really interested in seeing what will take its place. Seeing how the only way to the second floor is in the store itself. The one in central has two floors but both have entrances so it could be split. Target in Lansdowne either will have to have a major reno of some sort or another big store move into it.

@ Lansdowne the same happened for the Woodward's department store space - it was parcelled up into big box stores with escalators to grade from the second level - Future Shop and Winners. They could also build a vestibule inside the mall with escalators, since Target is around the back of the mall (but Lansdowne suffers from the confusing mall layout).

The Lansdowne Winners is pretty small - maybe they'll do a Park Royal and Winners will move into practically all of one floor of Target?

Park Royal is another example of where 2 former department store spaces have been divided for big boxes (Brick/SportChek/Atmosphere in the former EATON'S) and (Winners, Staples, Future Shop in the former BAY).

[Caliplanner]

Originally Posted by Klazu

http://www.cbc.ca/news/business/target-c...dlords-with-vacant-real-estate-1.2913138

Thanks much!