The Metro Vancouver Retail Thread - Page 418

osirisboy · #**8341** Posted **Jan 20, 2015, 4:48 PM**

Quote:

Originally Posted by jozero

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 ??

Ugh book snob much? i know tons of people who read on e readers! Oh I guess that doesn't count towards "literary culture" for you?

trofirhen · #**8342** Posted **Jan 20, 2015, 5:03 PM**

Regarding books and literature, I'd love to see, in downtown Vancouver, coffee shops where literature and poetry are read aloud to the clientèle.
I believe Seattle has experience with that, but of course the rents in downtown Vancouver would be prohibitive, and / or the customer volume> cashflow would not be there.
Correct me if I'm wrong.

Graham_Yvr · #**8343** Posted **Jan 20, 2015, 5:04 PM**

Perhaps (best case scenario IMO) we'll see a smaller, Indigo branded store in the new Telus Garden Retail podium. They could anchor that space quite nicely I think. It would help carry down the 'destination' retail toward that end of Robson also. Just my 2 cents.

Klazu · #**8344** Posted **Jan 20, 2015, 6:20 PM**

Quote:

Originally Posted by 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.

That Chapters has been very busy and apparently business has been good and profitable, as per their CEO's comment in media. This move is only because the very significant rent increase that the greedy landlord is doing.

So a bookstore in this corner has not been waste of space and been very popular with people.

red-paladin · #**8345** Posted **Jan 20, 2015, 6:51 PM**

Hopefully they can find another central location for a slightly smaller store.

jozero · #**8346** Posted **Jan 20, 2015, 8:03 PM**

Quote:

Originally Posted by GeeCee

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

Unlike what happened to Music and Video, Digital has not completely taken over in the book world. The uptake on eBooks has completely stalled in the last few years and is hovering around 25%. So there is a business case to be made for a real bookstore, and not just nostalgia.

Vin · #**8347** Posted **Jan 20, 2015, 8:36 PM**

Quote:

Originally Posted by Jougho

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

Cheers,
J

Ohhhhhh.....(can you sense my disappointment?)
Thanks for the info tho!

Vin · #**8348** Posted **Jan 20, 2015, 8:43 PM**

Quote:

Originally Posted by Klazu

That Chapters has been very busy and apparently business has been good and profitable, as per their CEO's comment in media. This move is only because the very significant rent increase that the greedy landlord is doing.

So a bookstore in this corner has not been waste of space and been very popular with people.

So if Chapters cannot afford the rent increase, I wonder if Sportchek/Atrmosphere (if it's true they are taking over) can. The sports shop at its current location is way quieter than Chapters.

osirisboy · #**8349** Posted **Jan 20, 2015, 8:51 PM**

Quote:

Originally Posted by Klazu

That Chapters has been very busy and apparently business has been good and profitable, as per their CEO's comment in media. This move is only because the very significant rent increase that the greedy landlord is doing.

So a bookstore in this corner has not been waste of space and been very popular with people.

Their profit came from mostly non book related items. I meant book store in the traditional sense, which would be a waste of space. (For this location)

osirisboy · #**8350** Posted **Jan 20, 2015, 8:58 PM**

Quote:

Originally Posted by jozero

Unlike what happened to Music and Video, Digital has not completely taken over in the book world. The uptake on eBooks has completely stalled in the last few years and is hovering around 25%. So there is a business case to be made for a real bookstore, and not just nostalgia.

Oh so that's why chapters filled it's space up with dolls candles and e readers??

Yes people still buy books but not like before. Can anyone remember the last time indigo/chapters even opened a new store?

officedweller · #**8351** Posted **Jan 20, 2015, 9:14 PM**

Quote:

Originally Posted by Klazu

That Chapters has been very busy and apparently business has been good and profitable, as per their CEO's comment in media. This move is only because the very significant rent increase that the greedy landlord is doing.

So a bookstore in this corner has not been waste of space and been very popular with people.

The problem is that it was profitable at lease rates under the old lease (and given the history of the 3rd floor - it's likely the 3rd floor was added to the lease at a very favourable lease rate). That was before the time of Winners and off-price big box stores, so it would have been very difficult to encourage customers to travel to the 3rd floor from the street.
[Also note that Banana Republic at Robson & Thurlow also added its 3rd floor after the landlord failed to get a restaurant with separate access up there.]

The old lease rates were probably not 17 year old lease rates, but even if the lease rates stepped up every 5 years, those rates would have been determined 17 years ago.

Typical renewal clauses would adjust the rent to a "market rate".

So it is probably fair to say that that a massive store - at 52,000 sq ft - is unprofitable at "market lease rates".

connect2source · #**8352** Posted **Jan 20, 2015, 10:37 PM**

I hope the Holt's expansion goes through now that Sport Chek will vacate the PC location. Holt's is a strong Canadian brand and I'm all for them being able to expand to stay current and compete effectively with the likes of Nordstrom.

As a Holt's shopper, I actually find the men's floor rather lacking, especially in shoes. I know a men's expansion is part of the plan and that's where Nordstrom is particularly strong. I also hope the Holt's Cafe finally comes to fruition.

Perhaps a re-do of the west facade of that portion of PC to match to contemporary 'white' Holt's look will also be incorporated into the expansion plans.

Conrad Yablonski · #**8353** Posted **Jan 20, 2015, 11:30 PM**

Quote:

Originally Posted by trofirhen

Regarding books and literature, I'd love to see, in downtown Vancouver, coffee shops where literature and poetry are read aloud to the clientèle....Correct me if I'm wrong.

Chapters actually used to do that but it was all about flogging books, flogging books, flogging books and we know where that went.

Quote:

Originally Posted by Klazu

That Chapters has been very busy and apparently business has been good and profitable, as per their CEO's comment in media....

You think the CEO is telling the truth?

jozero · #**8354** Posted **Jan 20, 2015, 11:58 PM**

Quote:

Originally Posted by osirisboy

Oh so that's why chapters filled it's space up with dolls candles and e readers??

Yes people still buy books but not like before. Can anyone remember the last time indigo/chapters even opened a new store?

Chapters does not equal the be all end all of book selling. Pulp Fiction Books for example now has 3 locations in town, all opened in the last little while. Other towns are successful in sustaining medium sized bookstores. Yes the mega bookstore days might be over, but the days of the *book store* are not over, nor in danger of a CD / Video store like collapse. Paperhound recently opened, and nother on Broadway near Alma.

Chapters, in their end of the fiscal years filings, said their transitional to a higher end department store that also sells books is working. Their yearly sales increased. And they are now looking at opening up smaller format, likely medium sized stores.

And yah I believe what they CEO publicly announces for her publicly traded company, otherwise she can go to jail. It is pretty good inventive. The Richmond Chapters closed without statements like the one made for the Downtown location.

trofirhen · #**8355** Posted **Jan 21, 2015, 12:06 AM**

Quote:

Originally Posted by Conrad Yablonski

Chapters actually used to do that but it was all about flogging books, flogging books, flogging books and we know where that went.

... too bad they were unable to rise above that, and be cool about it ... the café itself with bookreads would have been good advertising.

hollywoodnorth · #**8356** Posted **Jan 21, 2015, 2:00 AM**

I could see the 1st floor of Chapters reconfigured. Maybe shoe horn in 1 or 2 CRU's and then reconfigure the escalators so up and down from floor 1 and 2 both lead to the main entrance on the corner. So the Sport Check store would not have any street presence other than the escalators and doors ... sort of like Future Shop and Winners and Homesence on Robson are.

Retail-Insider · #**8357** Posted **Jan 21, 2015, 4:47 AM**

You can add Jaeger-LeCoultre to the list of luxury brands opening on/near Alberni Street. Other posts above are pretty accurate as well.

http://www.retail-insider.com/retail-insider/2015/1/jaeger-lecoultre

Retail-Insider · #**8358** Posted **Jan 21, 2015, 4:52 AM**

Quote:

Originally Posted by 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

Uniqlo looked at the space but FGL ultimately got the lease. Uniqlo has yet to secure space on Robson Street, though negotiations continue for a three-level purpose-built space on the 1000 block.

cairnstone · #**8359** Posted **Jan 21, 2015, 4:52 AM**

Quote:

Originally Posted by trofirhen

... too bad they were unable to rise above that, and be cool about it ... the café itself with bookreads would have been good advertising.

I remember when chapters were about books at a decent price and would go out of the way to find books
that was before chapters was ruined by the current management. Indigo could not compete with chapters so they bought them.

cairnstone · #**8360** Posted **Jan 21, 2015, 5:02 AM**

Quote:

Originally Posted by hollywoodnorth

I could see the 1st floor of Chapters reconfigured. Maybe shoe horn in 1 or 2 CRU's and then reconfigure the escalators so up and down from floor 1 and 2 both lead to the main entrance on the corner. So the Sport Check store would not have any street presence other than the escalators and doors ... sort of like Future Shop and Winners and Homesence on Robson are.

I think forzani/canadian tire will take all the space and do Atmosphere and sport check. With the 3 floors they could put in climbing walls and have feature brands within the location. An example would be having a Columbia Store. A