The Metro Vancouver Retail Thread

[connect2source]

wow!! no bookstore of any significance downtown any more, not good news.

Similar scenario in Toronto where they closed the giant location just off Queen St., there do, however operate another location in Eaton Centre.

Still, I'll miss this one, essential part of the downtown retail fabric IMO.

Way too big for MUJI! and a little large for UNIQLO.

[Porfiry]

Originally Posted by connect2source

wow!! no bookstore of any significance downtown any more, not good news.

Not sure you read it properly. They're moving, not leaving.

[officedweller]

Originally Posted by connect2source

Way too big for MUJI! and a little large for UNIQLO.

I wonder if they would co-locate if the space were subdivided
- or are they bitter rivals?

[DesignerBunny]

Here's the article that just came out on RI. Mention of a Uniqlo...but nothing to substantiate it at this point

http://www.retail-insider.com/retail-insider/2015/1/chapters-vancouver

[connect2source]

Originally Posted by Porfiry

Not sure you read it properly. They're moving, not leaving.

Thanks and whoops.. I did jump the 🞵🞵🞵 a bit!!

My guess is the new location would be significantly smaller as the current location was conceived well before e-books, it was even expanded from it's original two floors to three in 2000.

[urbancanadian]

If Uniqlo does take (some of) the space, I think that would be great for that corner, since Uniqlo is known for their flashy spaces. They could do something really cool with the glass box, for example.

[theKB]

given the rents around nordstrom and what they are commanding on granville I would love to know where they are sitting for the price on that space.

I wonder if the former quicksilver space may be something to look at?

I will hedge to say that the end is near for indigo/chapters at least as a large format retailer. They have only had two profitable quarters in the last eight and there is only so much bleeding before they sell off the assets and throw in the towel. I would assume there would be some significant value in some of their leases/real estate holdings.

[Vin]

Hopefully when Chapters announced they would be moving, it isn't just a "face-saving" strategy for a money-losing business, at least for that branch at Robson. There are instances when businesses simply disappear after they announce their intent to move. I would love to see Uniglo take up that space, but at the same time very sad to see Chapters leave. I just wish downtown Vancouver has a better supply of store spaces to warrant cheaper retail rents.

[officedweller]

HMV eventually came back...

WRT the other Chapters - If Chapters were to vacate the Granville & Broadway location too, would Restoration Hardware expand into the neighbouring space, since they are changing their business model to larger spaces?

[Jougho]

Originally Posted by Vin

Hopefully when Chapters announced they would be moving, it isn't just a "face-saving" strategy for a money-losing business, at least for that branch at Robson. There are instances when businesses simply disappear after they announce their intent to move. I would love to see Uniglo take up that space, but at the same time very sad to see Chapters leave. I just wish downtown Vancouver has a better supply of store spaces to warrant cheaper retail rents.

atmosphere / sport check taking over. certainly paves the way for Holt's expansion.

Cheers,
J

[hollywoodnorth]

confirmed

FGL Sports to replace Chapters on Robson Street

http://www.biv.com/article/2015/1/chapters-robson-street-close-june-30/

[casper]

Originally Posted by Vin

Hopefully when Chapters announced they would be moving, it isn't just a "face-saving" strategy for a money-losing business, at least for that branch at Robson. There are instances when businesses simply disappear after they announce their intent to move. I would love to see Uniglo take up that space, but at the same time very sad to see Chapters leave. I just wish downtown Vancouver has a better supply of store spaces to warrant cheaper retail rents.

Books are one of those things that amazon (and chapters to an extent) have convinced us are better handled online. It is unfortunate I like bookstores.

What would be interesting is if an expanded Book Warehouse would pop up.

[jozero]

Originally Posted by casper

Books are one of those things that amazon (and chapters to an extent) have convinced us are better handled online. It is unfortunate I like bookstores.

What would be interesting is if an expanded Book Warehouse would pop up.

Awe Man !!! Its literally the ONE problem I have with Vancouver versus other cities. The literary culture here 🞵🞵🞵🞵🞵. It's either Chapters or small used bookstores. Where is our Powells ??

[theKB]

Originally Posted by hollywoodnorth

confirmed

FGL Sports to replace Chapters on Robson Street

http://www.biv.com/article/2015/1/chapters-robson-street-close-june-30/

To me and the reading in between the lines of that article, they will not be opening another large store downtown.

IF that location's rent was untenable to be profitable, unless they are seeking a space way off the beaten track I don't see that happening. Of course this is just a gut feeling, but again if they are losing money every quarter there really is not point in continuing that expense or risking the shareholders money. Wouldn't be surprised if the Granville location was closed at the end of their lease there or if they can turn the lease itself into some cash.

I am actually very surprised that Canadian Tire/FGL would take a space like that but overall they are a very profitable company. It will be interesting to see how it performs especially considering Sport Check/Atmosphere is the worst performer on a sales per square foot out of the Canadian Tire brands. They have experienced strong growth and marginal increases in same store sales it seems however. FGL stores are averaging 285/foot on their last fiscal report.

I would love to know what the rent is for that space.

[officedweller]

The Chapters size reduction makes sense - like HMV also downsized.
Also remember that the Chapters was not originally intended to be 3 floors.
It was originally 2 floors when it opened, then expanded to the 3rd floor years later when the casino proposed for the 3rd floor was rejected.
The casino access was to be via escalators in the retail unit on Robson adjacent to the alley (the escalators were later removed).

*****

SportChek opened a state of the art store 48,000 sq ft store at Metropolis in December 2014 - they'll probably do the same for this location.

http://finance.yahoo.com/news/sport-chek-flagship-store-burnaby-150000983.html

[GeeCee]

Bookstores in 2015? Who needs em. I've got my Kobo.

[connect2source]

Originally Posted by officedweller

The Chapters size reduction makes sense - like HMV also downsized.

Exactly, the rent increases generally downtown can me mitigated by opening a store half the size, say 20,000 sq. feet. Would be more than adequate especially if there's no plans for an American Girl outlet. I expect it to be branded Indigo as well. The Robson location became far too large with lots of 'filler' merchandise in recent years.

[connect2source]

If the new Sport Check location is fashioned after the new state-of-the-art Metrotown store it could make for a very exciting, bright and colourful corner.

[red-paladin]

That is true.

[osirisboy]

I love sport check. So happy about this!! That corner being a bookstore was just a waste Although granted in recent years it has been mostly dolls and gift wrapping paper with e readers thrown in.