General Retail News

[mykl]

Originally Posted by eltodesukane

A few years ago, I noticed HMV stores selling less and less CDs and DVDs, and more and more unrelated stuff, like posters, pillows, lamps, blankets, bags, glasses, ...
And then HMV was bankrupt.
Now I notice Indigo, Chapters and Coles stores selling less and less books, and more and more unrelated stuff, like posters, pillows, candles, blankets, bags, glasses, ...
And then ..?

This is actually by design, and the reason the Indigo name is starting to replace Chapters. The founder Heather Reisman has a goal of selling 50% books, 50% other, turning it into more of a lifestyle store. Their policy of bringing books in at the customer's request with free pickup at the store is how they've eliminated many books from the sales floor while still technically offering a huge selection of titles.

[kevinbottawa]

Originally Posted by eltodesukane

A few years ago, I noticed HMV stores selling less and less CDs and DVDs, and more and more unrelated stuff, like posters, pillows, lamps, blankets, bags, glasses, ...
And then HMV was bankrupt.
Now I notice Indigo, Chapters and Coles stores selling less and less books, and more and more unrelated stuff, like posters, pillows, candles, blankets, bags, glasses, ...
And then ..?

Indigo is trying to position itself as "the world's first cultural department store" and the turnaround plan is working. They had record revenues earlier this year.

https://www.publishersweekly.com/pw/...scal-2017.html

I hope they bring their cultural department store concept to the downtown store.

[Cre47]

Mastermind Toys at Place d'Orleans/Champlain/174 (separate from the mall) is near completion and should be open in time for the Holiday rush (not sure of the exact date though).

[Dundas]

It's opened now.

[kwoldtimer]

I understand that the Stag Shop is to open at 757 Bank St. I've long thought that the Glebe's mix of retailers was incomplete without a sex shop, so it's good to know that gap will soon be filled....

[1overcosc]

With that and the two places in Centretown, Bank Street is.. eer.. well served.

[Uhuniau]

Originally Posted by acottawa

The suburban experiment seems to be over.

I wish they'd end their experiment with overly acidic, bitter, coffee. They used to have such nice mellow roasts or blends.

[Uhuniau]

Originally Posted by eltodesukane

Now I notice Indigo, Chapters and Coles stores selling less and less books, and more and more unrelated stuff, like posters, pillows, candles, blankets, bags, glasses, ...
And then ..?

Yes, reminds me to use up my Chapters gift cards ASAP.

I love how their Canadian history and politics sections at the Rideau location, just steps from Parliament Hill, has shrunk ever more and more... right under the slogan "The World Needs More Canada".

[Uhuniau]

Originally Posted by kwoldtimer

I understand that the Stag Shop is to open at 757 Bank St. I've long thought that the Glebe's mix of retailers was incomplete without a sex shop, so it's good to know that gap will soon be filled....

Not the only thing that's gonna get fil— [that's enough! - ed.]

[kwoldtimer]

Originally Posted by Uhuniau

I wish they'd end their experiment with overly acidic, bitter, coffee. They used to have such nice mellow roasts or blends.

Interesting - I have had my share of bitter coffee and, having lived in El Salvador I could tell you about acidic coffee (!), but I would not have described what I drink at Bridgehead as either bitter or acidic. To me, it's fairly mellow. I normally take it with a bit of milk, however, so maybe I'm not the best judge

[1overcosc]

Coffee is always a matter of preference. I find Bridgehead way too bitter to be palatable when drinking as drip but I find their cappuccinos are good. That's just my take. Granted, I just spent the summer living in Europe so I'm kind of turned off drip entirely at this point

[kwoldtimer]

Originally Posted by Uhuniau

Not the only thing that's gonna get fil— [that's enough! - ed.]

When I originally posted, I was going to say "that hole will soon be plugged", but "that gap will soon be filled" seemed more tasteful, somehow ....

Not to come off like a complete 14 year old, but the idea of a Stag Shop in the Glebe is bizarre in a way that makes me chuckle. I wonder what the BIA thinks?

[rocketphish]

Does this mean that we'll start to see PJC's on every corner that isn't already occupied by a Shopper's, as Metro goes head-to-head with Loblaws?

Metro grocery chain acquires Jean Coutu pharmacies for $4.5 billion
Metro also has the option to sell its 32.2 million shares in Alimentation Couche-Tard Inc. to help finance the deal.

Bloomberg News Bloomberg News
Published on: October 2, 2017 | Last Updated: October 2, 2017 8:45 PM EDT

Montreal-based grocer Metro Inc. pledged to sell some assets to reduce its financing needs and retain its credit rating as part of a $4.5-billion purchase of pharmacy chain Jean Coutu Group Inc.

Metro (TSX: MRU) will pay $24.50 a share in cash and stock for Jean Coutu (TSX: PJC.A), about a 6.1-per-cent premium to Jean Coutu’s price before the two companies announced last week that they were in advanced talks. The grocer said it has access to $3.4 billion in bank credit lines to finance the purchase.

The deal links two giants from Quebec and gives Metro an expanded foothold in the drug business, helping it diversify in an industry under increasing threat from Amazon.com Inc.’s food expansion. Jean Coutu’s earnings have been under pressure because of new provincial regulations on generic drugs, though a compromise was recently found with the government.

Metro also has the option to sell its 32.2 million shares in Alimentation Couche-Tard Inc., the owner of the Circle K convenience-store chain in the U.S., to help finance the deal, analysts have said. Metro has gained 6.9 per cent this year through Friday’s close.

“Bringing together our two highly respected and long-standing Quebec brands represents an exciting milestone,” chairman Jean Coutu said in the statement Monday. Metro said it expects the deal to boost earnings per share.

Jean Coutu shares closed last week at $24.30 after the companies confirmed they were in talks. Metro closed at $42.91.

Metro said the purchase includes a 75-per-cent cash component, with 25 per cent in stock. The offer works out to $18.38 in cash and 0.15251 Metro share, according to the statement. Metro said it will sell assets and seek more permanent financing to maintain a “strong and flexible balance sheet” and keep its BBB credit rating.

The combined company will operate more than 1,300 stores in Canada, with pharmacy operations combined into a standalone division. Metro said it expects synergies of $75 million within three years.

Canadian grocers, which were locked in a price war and are just coming out of a prolonged bout of food deflation, now have to get ready for Amazon, which in June agreed to buy Whole Foods Market Inc. The U.S. behemoth is also reported to have plans to roll out its Prime Now delivery service for groceries and other items in Canada this year.

The deal requires two-thirds support from Jean Coutu shareholders and already has the backing of the Coutu family, which controls the drug store chain.

Bank of Montreal and Canadian Imperial Bank of Commerce advised Metro on the deal, while National Bank of Canada worked with Jean Coutu.

by Tom Lavell and Sandrine Rastello

http://ottawacitizen.com/business/lo...5-46e77d17eb58

[Acajack]

I doubt Jean Coutu would do a major foray outside Quebec without a different name for their pharmacies. Or maybe they'd just use PJC.

[rocketphish]

Col. Sanders marching back to Bells Corners thanks to property tax break

Jon Willing, Ottawa Citizen
Published on: October 3, 2017 | Last Updated: October 3, 2017 10:57 AM EDT

A new effort to spice up Bells Corners is being led by Mayor Jim Watson, Coun. Rick Chiarelli and Col. Sanders.

The finance and economic development committee on Tuesday approved two applications for community improvement plan grants, one which will grease the wheels for the return of KFC to the west-Ottawa community.

Bells Corners could also see a new hotel if council votes in favour of a second tax grant next week.

The municipal grants are designed to spur development in quiet commercial areas. The grants for Bells Corners, available for 10 years to successful applicants, offsets some of the increased property taxes that come with redeveloping the land.

First Bay Properties can get a $178,000 grant from the city for building at 2015 Robertson Rd. The city figures the project will eventually increase the property taxes by $237,409, so it will use some of that money to provide the grant to First Bay.

There’s an old restaurant building beside an existing Cash Money on the property and First Bay is hungry for more tenants.

The owner plans to have three units in the vacant building in its new configuration. One unit will be for a power sports accessories retailer Gear Head Canada, which will have 8-10 employees, and other unit will be for KFC, which will have 10-15 employees. The third unit is still up for lease.

The construction value is estimated at $865,250.

“This application demonstrates the emerging rebound of Bells Corners,” Chiarelli, who represents the community, says in his written comments in a report. “KFC once led the exodus from the commercial area and now it is coming back.”

That’s not all for Bells Corners.

Colonnade Development, owner of the property at 300 Moodie Dr., is eligible to receive a $2,320,420 grant to build a hotel and restaurant.

The company wants to build a six-storey, 124-room Hilton Garden Inn hotel and a separate commercial building housing a restaurant with a drive-thru. The project value is estimated at $20 million and the hotel would generate about 100-110 employees, according to the city. The restaurant would have 40-50 employees.

Two existing single-storey buildings would be demolished. A thrift store, auto garage and auto parts distributor currently operate on the property.

The city figures it will receive more than $3 million extra in property taxes because of the land redevelopment. Colonnade’s grant would be funded from that extra tax revenue.

It’s a perfect development, Chiarelli argues, because the hotel will serve the relocated Department of National Defence headquarters at the old Nortel campus, in addition to the numerous minor sports tournaments in the west end.

In 2016, city council selected Bells Corners as a priority area for economic development, following similar community improvement plans on Carling Avenue and in Orléans.

The improvement plans attempt to spark development and create jobs in commercial and industrial areas that need a serious boost.

When the Bells Corners initiative was approved, the city counted 468 businesses that had closed or moved out of the community over several decades, including major chain restaurants and Ikea.

The final sign-offs for the grants will be part council’s agenda on Oct. 11.

[email protected]
twitter.com/JonathanWilling

http://ottawacitizen.com/news/local-...erty-tax-break

[rocketphish]

Haha... KFC is a "community improvement". Good one.

[YOWflier]

I'd argue that the unmistakable KFC scent wafting through the air is an improvement in any neighbourhood.

[TransitZilla]

Originally Posted by rocketphish

Col. Sanders marching back to Bells Corners thanks to property tax break

Jon Willing, Ottawa Citizen
Published on: October 3, 2017 | Last Updated: October 3, 2017 10:57 AM EDT

A new effort to spice up Bells Corners is being led by Mayor Jim Watson, Coun. Rick Chiarelli and Col. Sanders.

The finance and economic development committee on Tuesday approved two applications for community improvement plan grants, one which will grease the wheels for the return of KFC to the west-Ottawa community.

Bells Corners could also see a new hotel if council votes in favour of a second tax grant next week.

The municipal grants are designed to spur development in quiet commercial areas. The grants for Bells Corners, available for 10 years to successful applicants, offsets some of the increased property taxes that come with redeveloping the land.

First Bay Properties can get a $178,000 grant from the city for building at 2015 Robertson Rd. The city figures the project will eventually increase the property taxes by $237,409, so it will use some of that money to provide the grant to First Bay.

There’s an old restaurant building beside an existing Cash Money on the property and First Bay is hungry for more tenants.

The owner plans to have three units in the vacant building in its new configuration. One unit will be for a power sports accessories retailer Gear Head Canada, which will have 8-10 employees, and other unit will be for KFC, which will have 10-15 employees. The third unit is still up for lease.

The construction value is estimated at $865,250.

“This application demonstrates the emerging rebound of Bells Corners,” Chiarelli, who represents the community, says in his written comments in a report. “KFC once led the exodus from the commercial area and now it is coming back.”

That’s not all for Bells Corners.

Colonnade Development, owner of the property at 300 Moodie Dr., is eligible to receive a $2,320,420 grant to build a hotel and restaurant.

The company wants to build a six-storey, 124-room Hilton Garden Inn hotel and a separate commercial building housing a restaurant with a drive-thru. The project value is estimated at $20 million and the hotel would generate about 100-110 employees, according to the city. The restaurant would have 40-50 employees.

Two existing single-storey buildings would be demolished. A thrift store, auto garage and auto parts distributor currently operate on the property.

The city figures it will receive more than $3 million extra in property taxes because of the land redevelopment. Colonnade’s grant would be funded from that extra tax revenue.

It’s a perfect development, Chiarelli argues, because the hotel will serve the relocated Department of National Defence headquarters at the old Nortel campus, in addition to the numerous minor sports tournaments in the west end.

In 2016, city council selected Bells Corners as a priority area for economic development, following similar community improvement plans on Carling Avenue and in Orléans.

The improvement plans attempt to spark development and create jobs in commercial and industrial areas that need a serious boost.

When the Bells Corners initiative was approved, the city counted 468 businesses that had closed or moved out of the community over several decades, including major chain restaurants and Ikea.

The final sign-offs for the grants will be part council’s agenda on Oct. 11.

[email protected]
twitter.com/JonathanWilling

http://ottawacitizen.com/news/local-...erty-tax-break

Giving tax breaks to KFC seems ridiculous. It would make more sense to invest money into improving active transportation in Bells Corners to make it a more attractive people place. That would encourage businesses to set up and provide a wider community benefit.

[rocketphish]

Originally Posted by bradnixon

Giving tax breaks to KFC seems ridiculous. It would make more sense to invest money into improving active transportation in Bells Corners to make it a more attractive people place. That would encourage businesses to set up and provide a wider community benefit.

To be fair, a property developer is getting the grant to put up a new building. One of his prospective tenants is KFC.

[rocketphish]

I wonder if this will have any fallout for Ottawa?

RioCan to sell 100 properties worth about $2B over two to three years

By: The Canadian Press
Published: Oct 3, 2017 8:57am EDT

Canada's largest real-estate trust says it's planning to sell about $2 billion worth of properties – primarily open-air malls or power centres – in secondary markets across the country.

RioCan Real Estate Investment Trust (TSX:REI.UN) expects to net about $1.5 billion after expenses from the sale of about 100 properties by late 2018 or 2019, with exact details yet to be revealed.

About half of the net proceeds will be used to repurchase RioCan trust units from the open market.

RioCan also plans to invest $300 million to $400 million per year on property development in the six major markets that already account for about 75 per cent of its annual rental revenue.

RioCan chief executive Edward Sonshine told analysts that its properties in secondary markets generally have less growth potential than its holdings in Toronto, Montreal, Ottawa, Calgary, Edmonton and Vancouver.

"We have always known that the best assets, from a growth perspective, are located where there's population growth," Sonshine said Monday during a conference call with analysts.

"In Canada, that population growth is essentially in the six major markets of this country."

Although Sonshine said RioCan won't be revealing the exact list of properties until individual deals are reached, he said that many of them will be in Ontario and Quebec, with a smaller number in Atlantic Canada, Alberta and British Columbia.

Among the communities he identified as potential markets for sales were London, Ont., and smaller Ontario communities such as Collingwood, Renfrew, and Leamington.

He also said that Orillia, Ont., is home to a RioCan property with a vacant space formerly occupied by Target.

However, Sonshine said RioCan is flexible about what it sells and will keep some of its secondary market properties, including one in Barrie, Ont., that is part of a joint venture with Hudson's Bay Co. (TSX:HBC).

The B.C. capital of Victoria also has a property that RioCan will likely hold onto because of its potential for growth, he said.

As for the plan to buy back some of RioCan's equity, Sonshine said it made sense because of the relatively low market value of its units.

http://www.obj.ca/article/riocan-sel...wo-three-years