Canadian Retail Thread - Page 200

SpongeG · #**3981** Posted **Mar 27, 2015, 3:41 AM**

Bootlegger, Cleo owner falters amid retail sector upheaval

The company that owns clothing shops Ricki’s, Bootlegger and Cleo is preparing to close stores and eliminate jobs as part of a restructuring after the retailer won court protection from creditors Thursday.

Ontario-based Comark Inc., which was granted creditor protection under the Companies’ Creditors Arrangement Act, said all three banners would be affected but didn’t specify how many locations would close.

Hudson's Bay says sales at its 90 or so department stores are trending up. Hudson’s Bay proving the department store is alive and well

Shoppers at a Target store in Toronto queue up during the first day of clearance sales Thursday. Target Canada closing another 62 stores before Easter
Comark, which has more than 300 stores, is the latest to fall victim to a brutally competitive retail landscape that’s claimed more than half a dozen established names in the past several months — not least Target Canada.

...

http://globalnews.ca/news/1905766/bootle...-bankruptcy-amid-retail-sector-upheaval/

MonctonRad · #**3982** Posted **Mar 28, 2015, 1:33 PM**

Future Shop Stores Close Across Canada
London, Ontario, Canada / (CFPL AM) AM 980
March 28, 2015 09:20 am

All Future Shop stores in Canada have closed, effective immediately.

The news was delivered simultaneously to employees across the country early Saturday morning as they were showing up for their shifts.

A select few outlets will be converted into Best Buy stores, but the rest — including the store in north London — will remain closed for good.

It wasn’t immediately clear what would become of the Future Shop on Wellington Road in the White Oaks-area, although there’s already a Best Buy across the street.

As of mid-Saturday morning, Future Shop’s website was unavailable, but a message on the company’s app informs users “Future Shop and Best Buy are consolidating under the Best Buy brand. That means, the products, services, and features you have come to expect from FutureShop.ca can be found at BestBuy.ca.”

It wasn’t immediately clear how many jobs would be lost as a result of Saturday’s store closures.

Future Shop was founded in 1982, and was purchased by Best Buy in 2001 for $580-million.

Until now, Best Buy continued to operate Future Shop as a separate division.

kwoldtimer · #**3983** Posted **Mar 28, 2015, 1:38 PM**

Quote:

Originally Posted by MonctonRad

Future Shop Stores Close Across Canada
London, Ontario, Canada / (CFPL AM) AM 980
March 28, 2015 09:20 am

All Future Shop stores in Canada have closed, effective immediately.

The news was delivered simultaneously to employees across the country early Saturday morning as they were showing up for their shifts.

A select few outlets will be converted into Best Buy stores, but the rest — including the store in north London — will remain closed for good.

It wasn’t immediately clear what would become of the Future Shop on Wellington Road in the White Oaks-area, although there’s already a Best Buy across the street.

As of mid-Saturday morning, Future Shop’s website was unavailable, but a message on the company’s app informs users “Future Shop and Best Buy are consolidating under the Best Buy brand. That means, the products, services, and features you have come to expect from FutureShop.ca can be found at BestBuy.ca.”

It wasn’t immediately clear how many jobs would be lost as a result of Saturday’s store closures.

Future Shop was founded in 1982, and was purchased by Best Buy in 2001 for $580-million.

Until now, Best Buy continued to operate Future Shop as a separate division.

That seems brutally unnecessary.

MonctonRad · #**3984** Posted **Mar 28, 2015, 1:44 PM**

Quote:

Originally Posted by kwoldtimer

That seems brutally unnecessary.

Indeed, it's a retailing version of a sneak attack - almost like Pearl Harbour.

At least a couple of the Future Shops in the Maritimes will be rebranded - Sydney and Fredericton. I'm hopeful for Moncton, Saint John and Charlottetown too as there are no Best Buys in these cities. There are at least three Future Shops in Halifax however that will likely close as there are two Best Buys in Halifax. Stores in New Minas and New Glasgow (NS) closed earlier this week.

eternallyme · #**3985** Posted **Mar 28, 2015, 1:50 PM**

Considering how empty their stores often are, I am surprised it took this long. But to happen with no public notice is just mean.

SignalHillHiker · #**3986** Posted **Mar 28, 2015, 1:55 PM**

So many things are shutting down for good. It's a bit disorienting.

osirisboy · #**3987** Posted **Mar 28, 2015, 2:09 PM**

Yea it's bullshit. They obviously knew probably weeks in advance that this was most likely going to happen. To not give their employees notice is just them being a dick!

eternallyme · #**3988** Posted **Mar 28, 2015, 2:15 PM**

I've heard about half of the stores are closing for good and about half are being renovated into Best Buy.

manny_santos · #**3989** Posted **Mar 28, 2015, 2:16 PM**

I'm not at all surprised about Future Shop. They closed both their Kingston store and one in Ottawa a couple of months ago.

AM980 London is reporting that both London stores are closing permanently.

Future Shop has a fairly new store in Brockville, which is much smaller than the conventional Future Shop format. It's more of a showroom, with some staff but very little actual product. I suspect it will become a Best Buy.

whatnext · #**3990** Posted **Mar 28, 2015, 2:17 PM**

What a shitty way to treat your employees.

Xelebes · #**3991** Posted **Mar 28, 2015, 2:20 PM**

Hm, will have to go downtown to see if the location downtown is shuttered.

eternallyme · #**3992** Posted **Mar 28, 2015, 2:22 PM**

Quote:

Originally Posted by Xelebes

Hm, will have to go downtown to see if the location downtown is shuttered.

Is there a Best Buy close by? If not, and it is profitable enough, they might convert it.

MonctonRad · #**3993** Posted **Mar 28, 2015, 2:39 PM**

The Moncton FS will be rebranded as Best Buy and will reopen April 4th.

LFRENCH · #**3994** Posted **Mar 28, 2015, 2:54 PM**

about two years ago they shuttered all the best buys on vancouver island and left just the futureshops. Now this, I'm thinking they really don't have much confidence in the market and don't really know what to do to rectify this issue.

manny_santos · #**3995** Posted **Mar 28, 2015, 3:04 PM**

Just saw on Twitter that Future Shop just opened a brand new store in Cornwall, Ontario this past November. Did they seriously not think about the future (no pun intended) of the chain? I can't help but think they knew they were opening a store they'd be closing anyways in the very next quarter.

Trevor3 · #**3996** Posted **Mar 28, 2015, 3:09 PM**

I was at the Future Shop in New Glasgow last spring and actually thought the place was closed. There wasn't a single car in the parking lot even though it's directly alongside Walmart and Canadian Tire. I walked up to the door and it opened, then went in only to find I was one of maybe 3 people in there.

casper · #**3997** Posted **Mar 28, 2015, 3:45 PM**

Quote:

Originally Posted by whatnext

What a shitty way to treat your employees.

Honestly, they are probably doing a better job of treating their employees, customers and suppliers with respect by doing this.

Their employees all getting severance pay, and help to find new jobs. Their suppliers are being paid, they are honoring all their gift cards, warranties, exchanges etc. at the Best Buy locations. Are the employees in a state of shock or did they expect empty stores to sustain the business.

Compare this to Target, where employees were given notice, but had to work through there severance period or not get paid. They had to work there liquidating the store and dealing with customers who know they are lousing there jobs and spend a good part of the day answering questions from customers about how the store is closing and how Target is a failure.

eternallyme · #**3998** Posted **Mar 28, 2015, 4:01 PM**

I wonder if stores in less desirable locations (i.e. poorer parts of urban areas and small declining cities; although Future Shop didn't have too many stores in small cities, like under 50,000) and if they will close even if there is no Best Buy nearby?

Trevor3 · #**3999** Posted **Mar 28, 2015, 4:18 PM**

Quote:

Originally Posted by eternallyme

I wonder if stores in less desirable locations (i.e. poorer parts of urban areas and small declining cities; although Future Shop didn't have too many stores in small cities, like under 50,000) and if they will close even if there is no Best Buy nearby?

Early indications seem to be that healthy Future Shops that were not in the vicinity of a Best Buy will be rebranded under the Best Buy banner, such as in Sydney and Fredericton, much as Monctonrad alluded to a few posts up. Other stores that struggled will probably just be shuttered altogether since there was little foothold in the market anyway - It's hard to come into a small market and compete with an established trend to shop at Walmart for small electronics or local retailers for big ticket items.

I guess this also kills any chance of Future Shop or Best Buy coming to Corner Brook too.

SignalHillHiker · #**4000** Posted **Mar 28, 2015, 4:27 PM**

Safe to assume ours won't be converted into a Best Buy.

(Oh Google... like anyone would walk out there...)