Winnipeg Retail

[wags_in_the_peg]

I hate malls, I hate shopping, however I was in Polo Park last night looking for new eyeglasses. I saw 4 stores with "closing out sale" signs. Tip Top, HMV, BCXXB...., and some other men casual clothing place. Pretty shocked, I guess it continues to be a sign of the times.

[esquire]

^ A steady churn of businesses is not unusual in retail... tired old concepts give way to fresh new ones. If you looked at a Polo Park tenant list from 30 years ago you probably wouldn't see very many of the same names still in business today.

[borkborkbork]

Originally Posted by esquire

^ A steady churn of businesses is not unusual in retail... tired old concepts give way to fresh new ones. If you looked at a Polo Park tenant list from 30 years ago you probably wouldn't see very many of the same names still in business today.

These are the original 40 Polo Park tenants.

Of them, I think a minority (9-12) are still going concerns:

Dominion and United Cigar still exist, sorta, as Metro and Gateway Newstands. Bata still exists, just not in Canada.

Loblaws, CIBC, the liquor store, Perth Dry Cleaners, Hanford-Drewitt, Tip Top, Birks, Reitman's, and Broadway Florists all still exist.

The rest, I think, no longer exist.

[urbanretail]

Originally Posted by wags_in_the_peg

I hate malls, I hate shopping, however I was in Polo Park last night looking for new eyeglasses. I saw 4 stores with "closing out sale" signs. Tip Top, HMV, BCXXB...., and some other men casual clothing place. Pretty shocked, I guess it continues to be a sign of the times.

stockhomme and billabong are also closing

[Urban recluse]

Originally Posted by wags_in_the_peg

I hate malls, I hate shopping, however I was in Polo Park last night looking for new eyeglasses. I saw 4 stores with "closing out sale" signs. Tip Top, HMV, BCXXB...., and some other men casual clothing place. Pretty shocked, I guess it continues to be a sign of the times.

Totally. I long for the days of going into smaller stores with, you know, storefronts.

[1ajs]

hmv filed for bankrupcy but aparently some vynal store outa toronto took over the lease for all of the hmv's.

as for the other yea turn over is nortmal i dunno any of those stores sept maybe tiptop and ive never been in there and what is bcxxb

if the apple store closed its doors then there would be a problem or the lego store....

[Urban recluse]

Given the increasing number of breaches in online security, I am all for going back to the good old days of getting off your ass and doing things in person.

[CoryB]

Originally Posted by borkborkbork

These are the original 40 Polo Park tenants.

Of them, I think a minority (9-12) are still going concerns:

The rest, I think, no longer exist.

I think it's gone now but Mario's Hair Design was very much still a going concern a couple years back when its lease at Polo Park came up for renewal and the mall effectively forced them out, much like they did Broadway Florists and a number of stores before that. It is important to fit the image they are wanting to build for the mall.

Originally Posted by 1ajs

hmv filed for bankrupcy but aparently some vynal store outa toronto took over the lease for all of the hmv's.

as for the other yea turn over is nortmal i dunno any of those stores sept maybe tiptop and ive never been in there and what is bcxxb

if the apple store closed its doors then there would be a problem or the lego store....

Sunrise Records is bidding to take over the HMV leases, they are definitely not getting them all. It is more they are talking to the landlord directly for the space HMV occupies than taking over HMV as a going concern. Their goal is to get better lease terms than what HMV had.

In terms of the Apple store or Lego store closing, no store is completely irreplaceable. Polo lost one of its three anchors (Zellers) and barely even missed a beat. They could likely lose Sears and keep right on humming with many possibilities of what they could do with the same. With how Polo operates now I bet it could even go completely anchor free and barely blink. For Apple or Lego store to close if those companies were not otherwise in trouble would be indicative of a major issue with the mall itself but that doesn't seem to be something that is likely to happen anytime soon. If they did lose any one store CF tends to have at least two more ready to step into that space.

[esquire]

^ Apple is by far the highest PSF sales earner in the mall... that's some serious drawing power. Losing it would be a huge blow for Polo Park. Lego would not be missed nearly as much.

[TimeFadesAway]

Originally Posted by esquire

^ Apple is by far the highest PSF sales earner in the mall... that's some serious drawing power. Losing it would be a huge blow for Polo Park. Lego would not be missed nearly as much.

With the cost of Lego these days, I imagine the store only has to sell one or two sets a week to rival Apple's PSF sales earnings.

[SpongeG]

Originally Posted by 1ajs

hmv filed for bankrupcy but aparently some vynal store outa toronto took over the lease for all of the hmv's.

as for the other yea turn over is nortmal i dunno any of those stores sept maybe tiptop and ive never been in there and what is bcxxb

if the apple store closed its doors then there would be a problem or the lego store....

maybe bcxxb is BCBG? its closing all its canadian stores as the company is bankrupt. Tip Top is also trying to avoid bankruptcy if they aren't already going through it.

[Wolf13]

Originally Posted by wags_in_the_peg

I hate malls, I hate shopping, however I was in Polo Park last night looking for new eyeglasses. I saw 4 stores with "closing out sale" signs. Tip Top, HMV, BCXXB...., and some other men casual clothing place. Pretty shocked, I guess it continues to be a sign of the times.

Originally Posted by urbanretail

stockhomme and billabong are also closing

Originally Posted by SpongeG

maybe bcxxb is BCBG? its closing all its canadian stores as the company is bankrupt. Tip Top is also trying to avoid bankruptcy if they aren't already going through it.

I'm perfectly fine with those retailers making way for potential operators who are relevant.

As mentioned, this is a natural process in retail. Tip Top cannot compete in a world wear Eph apparel is selling made-to-measure suits under 300. Rich hockey wives don't want to shop at Polo for BCBG and nobody knows what stockhomme is. Billabong is the only surprise.

[CoryB]

Originally Posted by esquire

^ Apple is by far the highest PSF sales earner in the mall... that's some serious drawing power. Losing it would be a huge blow for Polo Park.

I would wager that the Apple store while having a high PSF sales figure generates a lot of traffic that only goes to the Apple Store. As a whole Polo Park might feel a slight pinch if the Apple store picked up and moved somewhere else but end of the day losing the Apple store would barely even be a small blip on the continued, on-going success of the mall.

[esquire]

Originally Posted by CoryB

I would wager that the Apple store while having a high PSF sales figure generates a lot of traffic that only goes to the Apple Store. As a whole Polo Park might feel a slight pinch if the Apple store picked up and moved somewhere else but end of the day losing the Apple store would barely even be a small blip on the continued, on-going success of the mall.

If you're CF, there is nothing that you could replace the Apple Store with that would have as strong an effect on the mall. Apple Stores are a huge draw that lift sales figures singlehandedly and allow landlords to lift rent throughout the mall.

[1ajs]

lego store draws allot of kids and adults its always packed.. anytime i go in that store i drop at least 100$ and see allot of people spending even more then that. if lego closed its wpg store but not others it would be a warning about our economy sane with apple....

u think legos just some toy they are the worlds largest toy manufacture and the worlds largest tire manufacture

[cllew]

did I read the original PP tenant list right, as it looks like there was a lumber yard there (Monarch Lumber Company LTD)? That one I don't ever remember being there.

[SpongeG]

Billabong bought West 49 a number of years back, perhaps they are closing billabong to focus on West 49 in Canada, since they seem to be opening more West 49 Stores.

[TimeFadesAway]

Originally Posted by cllew

did I read the original PP tenant list right, as it looks like there was a lumber yard there (Monarch Lumber Company LTD)? That one I don't ever remember being there.

Did a quick google search and came across this from some Manitoba govt history of the lumber industry:

"Even Manitoba’s most well known lumberman, T.A.Burrows, saw a need to develop different facets to his enterprise. Eventually his company’s emphasis passed from logging and milling to retailing, and Burrows Lumber devolved into Monarch Lumber, a retail operation selling wood products from all over Canada."

Source: https://www.gov.mb.ca/chc/hrb/pdf/lu...n_manitoba.pdf

So it was probably a storefront selling things like wooden chairs and bird feeders.

[bomberjet]

Well I see the Lego haters are out haha jk. Lego is super expensive and has a huge following. I got Lego for Christmas a couple years back and I'm 30. The powered crane is awesome. The new and popular Lego's sell out sometimes like new electronics. Huge dollars to be made by Lego.

[esquire]

Originally Posted by bomberjet

Well I see the Lego haters are out haha jk. Lego is super expensive and has a huge following. I got Lego for Christmas a couple years back and I'm 30. The powered crane is awesome. The new and popular Lego's sell out sometimes like new electronics. Huge dollars to be made by Lego.

Where did you and 1ajs see comments putting down the Lego store?