The Metro Vancouver Retail Thread - Page 545

osirisboy · #**10881** Posted **Feb 3, 2017, 1:09 AM**

It looks like an extensive reno. Wish they could build 2 floors (something like 5 floors would be good but of course that's crazy) that way it hides the 🞵🞵🞵🞵🞵🞵 backside of robson that you can see from burrard

jollyburger · #**10882** Posted **Feb 3, 2017, 4:07 AM**

Quote:

Originally Posted by connect2source

Interesting..

The 'Village at Park Royal' seems to be moving decidedly upscale. What was once a mid-range collection of shops and services, Lenscrafters and a kitchen store, is being replaced by the likes of Oak + Fort and Stuart Weitzman. Likely reflecting both a change in demographics for PR customers and the new, more upscale direction for Park Royal South.

Sure they might have a more brand friendly retail mix, but I doubt their demographics have changed much. If they replaced the anchors in the village with more "upscale" names then that might be more significant than a few smaller CRUs.

dreambrother808 · #**10883** Posted **Feb 3, 2017, 5:31 AM**

Quote:

Originally Posted by jollyburger

Sure they might have a more brand friendly retail mix, but I doubt their demographics have changed much. If they replaced the anchors in the village with more "upscale" names then that might be more significant than a few smaller CRUs.

They're always going to be largely limited by their location but limited in terms of upscale demographic? It's West Vancouver.

Sheba · #**10884** Posted **Feb 3, 2017, 6:47 PM**

Hudson's Bay makes takeover approach for Macy's

Quote:

Hudson's Bay Co has made a takeover approach for retail chain Macy's Inc, according to people familiar with the matter, in a deal that would push the Canadian department store operator deeper into the U.S. market.

Shares of Macy's, which had a market value of about $9.4 billion as of Thursday's close, were up 6 percent to $32.57 in midday trading on Friday.

Talks between the companies are at an early stage, one of the people said. The sources asked not to be identified because the negotiations are confidential. Hudson's Bay said it does not comment on rumors or speculation, while Macy's was not immediately available to comment.

A deal would add another retailer to Hudson Bay's expanding portfolio, which includes Saks Fifth Avenue and Lord & Taylor in the United States, as well as Galeria Kaufhof in Europe.

...

The Canadian retailer was acquired in 2008 by NRDC Equity Partners, headed by Richard Baker. The executive chairman of HBC, Baker subsequently acquired Saks for $2.9 billion in 2013 in a deal that included a number of valuable real estate properties. The company bought German chain Kaufhof for 2.8 billion euros ($3.02 billion) in 2015.

That same year, the company formed two real estate joint ventures, U.S.-based Simon Property Group Inc and Canada's RioCan Real Estate Investment Trust. The joint ventures, which would scout for international opportunities, was another move by HBC to bring value to its lucrative real estate assets portfolio. It's real estate assets are worth about C$11 billion with an equity value of C$6.5 billion.

connect2source · #**10885** Posted **Feb 3, 2017, 8:38 PM**

HBC is on a tear! Major incentive for these deals is the real estate, once they acquire these department store chains they generally sell off the flagship real estate assets and lease them back.

If this happen a Canadian company will control a massive portion of the US department store biz.

Vin · #**10886** Posted **Feb 3, 2017, 8:55 PM**

Quote:

Originally Posted by officedweller

Agreed.
The proposed façade is very cave-like.

But perhaps with so many window smash-ins in this city, minimizing the amount of glass is now the new trend. Even my building just got the back alley-side waiting lounge glass smashed, for no apparent reason. Vancouver, oh Vancouver....

officedweller · #**10887** Posted **Feb 3, 2017, 10:35 PM**

Quote:

Originally Posted by Vin

But perhaps with so many window smash-ins in this city, minimizing the amount of glass is now the new trend. Even my building just got the back alley-side waiting lounge glass smashed, for no apparent reason. Vancouver, oh Vancouver....

Could be.

Osirisboy makes a good point about going 2 floors too.
The proposed design looks so small next to the newer building on the corner.
They should at least have a tall ceiling to provide a big façade - like Sephora.

************

Here's the Seattle Times' / NY Times article on HBC & Macy's.

It focuses more on Macy's financial troubles.

Quote:

Struggling Macy’s reportedly in talks on potential takeover by Hudson’s Bay
Originally published February 3, 2017 at 1:40 pm | Updated February 3, 2017 at 1:42 pm

By MICHAEL J. de la MERCED and Rachel Abrams
The New York Times

...

The preliminary discussions are set against the continuing woes of Macy’s, the country’s biggest department store. Once a retail titan, the company has struggled to remain relevant as e-commerce and discount retailers have decimated the traditional brick-and-mortar business.

Last month, Macy’s announced plans to cut more than 10,000 jobs and close stores, including one at the Everett Mall.

Since the recession, shoppers have been trained to hunt for bargains. Discount stores and outlet malls have flourished. Traditional stores have been forced to respond by trimming their prices, which cuts into their margins.

Departments stores have been hit especially hard — and in particular Macy’s, which has resorted to offering year-round sales. What has emerged, analysts say, is a virtual race to the bottom, with shoppers becoming accustomed to discounts and forgoing paying full price.

Macy’s troubles have drawn the attention of a prominent activist hedge fund, Starboard Value, which has urged Macy’s to generate cash by selling the real estate sitting underneath its stores. Starboard had previously estimated the value of that land at about $21 billion.

...

http://www.seattletimes.com/business/str...ks-on-potential-takeover-by-hudsons-bay/

officedweller · #**10888** Posted **Feb 3, 2017, 11:06 PM**

Steve Nash Fitness World is now suing Steve Nash...

Fitness clubs launch lawsuit against Steve Nash
http://www.bnn.ca/fitness-clubs-launch-lawsuit-against-steve-nash-1.663028

officedweller · #**10889** Posted **Feb 3, 2017, 11:11 PM**

Retail Council of Canada shopping centre study:

http://www.retailcouncil.org/sites/default/files/RCCCanadianShoppingCenterStudyFINAL.pdf

Vancouver area mall stats:

http://www.retailcouncil.org/sites/default/files/RCCCanadianShoppingCenterStudyFINAL.pdf

jollyburger · #**10890** Posted **Feb 3, 2017, 11:14 PM**

Quote:

Originally Posted by dreambrother808

They're always going to be largely limited by their location but limited in terms of upscale demographic? It's West Vancouver.

I just mean that the demographics of the PR shopper hasn't changed though retailers might be doing a better job of serving it locally (versus having to go downtown)

jollyburger · #**10891** Posted **Feb 3, 2017, 11:20 PM**

Quote:

Originally Posted by connect2source

HBC is on a tear! Major incentive for these deals is the real estate, once they acquire these department store chains they generally sell off the flagship real estate assets and lease them back.

If this happen a Canadian company will control a massive portion of the US department store biz.

Macy's was also working with Brookfield Asset Management on redeveloping some of their properties.

I wonder if having a massive portion of the US department stores is a good thing?

officedweller · #**10892** Posted **Feb 4, 2017, 1:53 AM**

Quote:

Originally Posted by jollyburger

I wonder if having a massive portion of the US department stores is a good thing?

It could also mean overexpansion and be their downfall
- i.e. after they sell off all the real estate.

officedweller · #**10893** Posted **Feb 7, 2017, 4:59 AM**

Retail Insider article on Holt's ongoing expansion at Pacific Centre:

http://www.retail-insider.com/retail-insider/2017/2/holt-renfrew-vancouver

Sounds like the men's wear section will stay the size it is currently -
although it seemed small to me when I walked through.

SpongeG · #**10894** Posted **Feb 7, 2017, 5:23 AM**

So the new shoe hall is in the old mens department? The mens new area seems to be lacking the instore shops they used to have like tom ford, dolce and gabanna etc.

jollyburger · #**10895** Posted **Feb 7, 2017, 5:32 AM**

Quote:

Originally Posted by SpongeG

So the new shoe hall is in the old mens department? The mens new area seems to be lacking the instore shops they used to have like tom ford, dolce and gabanna etc.

Think they said Tom Ford and Berluti were opening up boutiques in there.

officedweller · #**10896** Posted **Feb 7, 2017, 5:32 AM**

Seems like it.
The under the escalator area isn't shown though.
It was Canada Goose over the holidays - so maybe that'll be added to men's wear?

SpongeG · #**10897** Posted **Feb 7, 2017, 5:34 AM**

Berluti has a space in there already i think. Kinda tucked away with the temp walls making it gard to even notice

officedweller · #**10898** Posted **Feb 7, 2017, 5:43 AM**

One of the pics has the triangular skylights -
so not sure if that women's shoe department is split between floors or maybe it's all on the top floor (or those "skylights" are fake).

Vancouver_Highrise · #**10899** Posted **Feb 7, 2017, 5:49 AM**

I just spoke to someone from head office at Nordstrom. She said that they are in talks for a store in Richmond but nothing has officially been signed.

casper · #**10900** Posted **Feb 7, 2017, 6:19 AM**

Quote:

Originally Posted by Vancouver_Highrise

I just spoke to someone from head office at Nordstrom. She said that they are in talks for a store in Richmond but nothing has officially been signed.

I was in Lansdowne a few week ago. It has space. Probably not the venue that Nordstrom is after, but who knows. I think the old Eatons area is just walled off.

Boy that shopping centre needs a new lease on life. What a rag tag mix of stores. Odd the parking lot has not be converted in high priced condos yet.