[Moncton] Retail Thread - Page 283

MonctonRad · #**5641** Posted **Feb 28, 2019, 6:49 PM**

Victoria's Secret is closing down 53 store in North America this year.

I would be concerned for the CF Champlain location. It has never struck me as being overly busy, and I'm sure Moncton is considered a small market for them. This would be a big blow to the mall if it were to disappear.

No list of store closures has been announced though, so we are still in the conjecture stage........

drewber · #**5642** Posted **Feb 28, 2019, 8:45 PM**

Quote:

Originally Posted by MonctonRad

Victoria's Secret is closing down 53 store in North America this year.

I would be concerned for the CF Champlain location. It has never struck me as being overly busy, and I'm sure Moncton is considered a small market for them. This would be a big blow to the mall if it were to disappear.

No list of store closures has been announced though, so we are still in the conjecture stage........

It appears it will only be 3 Canadian locations so perhaps in smaller markets or standalone locations as I believe the Dieppe location is co branded with PINK. Fingers crossed

MonctonRad · #**5643** Posted **Feb 28, 2019, 9:00 PM**

Quote:

Originally Posted by drewber

It appears it will only be 3 Canadian locations so perhaps in smaller markets or standalone locations as I believe the Dieppe location is co branded with PINK. Fingers crossed

Where did you find the number "three"?

That is indeed good news. Statistically, given the relative populations of the US & Canada, you could conjecture 6-7 store closings, but if it is only three, I'm more hopeful.

I'm not surprised that proportionately the US is getting hit harder than Canada. The US tends to be far more "over-retailed" than we are..........

There are many factors to consider when choosing a location to shutter, not just sales per square foot.

1) - What is the negotiated lease cost for the store?
2) - How long is the lease?
3) - Is the lease coming up for renewal?
4) - What is the penalty for breaking the lease agreement?
5) - Is the landlord amenable to renegotiation?
6) - Are there other VS stores nearby? (an underperforming VS store in a market with 5-6 stores might be more likely to close than a store which is the only store in the market).
7) - How strategically important is the store (does VS want to maintain a store in the market no matter what).

It will be interesting to see if VS wants to maintain a store in the NB/PEI market. If so, then the CF Champlain store may be safe........

drewber · #**5644** Posted **Feb 28, 2019, 11:15 PM**

Quote:

Originally Posted by MonctonRad

Where did you find the number "three"?

Quote:

Even more closures are planned for this year, with L Brands saying that 53 of their North American stores are expected to shut their doors this year. That number includes 50 Victoria’s Secret locations in the U.S. and three in Canada.

https://www.ctvnews.ca/business/victoria...s-store-closures-in-u-s-canada-1.4316577

MonctonRad · #**5645** Posted **Mar 1, 2019, 2:24 AM**

Thanks.

I just checked - there are 45 VS stores in Canada. There are multiple locations in Montreal, the GTA, Winnipeg, Edmonton, Calgary and the lower mainland. Perhaps these metropolitan areas are most vulnerable (because of the multiple locations). Moncton is about the smallest city in the country with a VS store, which may be a red flag, but corporate may be looking at the entire catchment area, and online chatter since the story broke seems to indicate that the Champlain Place location has good traffic, and may be safe.

We'll see - at the very least, I expect this to be a near thing for the CF Champlain store. All things being equal, there is a 7% chance of closure (3/45). Looking at the listing of stores, I would say at least 16-18 stores in the chain are absolutely safe from closure, meaning that the actual odds of closure for the Dieppe store are more like 3/28, or about 12%. Realistically, I would say the odds of closure are really about 25%...........

drewber · #**5646** Posted **Mar 2, 2019, 1:18 AM**

https://www.cbc.ca/news/business/gap-closing-some-stores-in-canada-1.5039672

Quote:

Gap Inc., is refusing to tell The Canadian Press exactly how many of the 230 stores it is closing will be in Canada, but says the majority of international network closures will be in North America.

Yet another retailer pulling out

MonctonRad · #**5647** Posted **Mar 2, 2019, 1:59 AM**

This could affect the Banana Republic Factory Store in the Mapleton Centre, but honestly, I think it will be the remaining GAP stores in Canada which will take the biggest hit.

MonctonRad · #**5648** Posted **Mar 5, 2019, 9:47 PM**

From the Pur & Simple Facebook page:

Interior renovations at CF Champlain for the new Pur & Simple are progressing well. Note the large exterior windows that have been installed.

MonctonRad · #**5649** Posted **Mar 7, 2019, 12:44 PM**

Retail Insider is reporting that LL Bean has chosen it's first bricks and mortar location in Canada - a mall based store in Oakville ON.

Apparently the plan is still to open up to 20 stores in Canada over the next decade.

What does this mean for us? I imagine most stores will be located within or near the top 6-8 CMAs in the country. I think there will probably be one, maybe (if we're lucky) two stores in the Maritimes. I imagine Halifax will be in line for a store, but if there is a second store, it could be in Moncton.

If there were a store in Moncton (which I view as an outside possibility), where would it go?

- I doubt that it would be at CF Champlain. I imagine Bass Pro has a exclusivity agreement with the mall preventing a similar retailer from setting up shop.
- I also doubt that it would go in the old Cabela's location in Mapleton Crossing. That store is owned by BPS, and again, they would not want to do anything to facilitate the entry of a competitor into the marketplace.
- If LL Bean were to come to Moncton, I would imagine it would either go to the Trinity Drive district or to the Granite Centre.

DoctorNick · #**5650** Posted **Mar 7, 2019, 2:47 PM**

I would be over the moon excited if LL Bean decided to come to Moncton. They make great products, and I wouldn't have to make the drive to their Freeport store as often!

OUIR@random · #**5651** Posted **Mar 7, 2019, 5:23 PM**

I couldn't care less that LL Bean is coming to Canada. I think we should encourage Canadian brands more like MEC Mountain Equipment Co-op which is Canadian. When do Americans patronize our products and our brands really? I'm not sure it will be that successful.

Good2go · #**5652** Posted **Mar 7, 2019, 5:33 PM**

Quote:

Originally Posted by OUIR@random

I couldn't care less than LL Bean is coming to Canada. I think we should encourage Canadian brands more like MEC Mountain Equipment Co-op which is Canadian. When do Americans patronize our products and our brands really? I'm not sure it will be that successful.

I agree. People think they are expensive now? Wait til they see the Canadian prices. Target 2.0

drewber · #**5653** Posted **Mar 7, 2019, 8:14 PM**

Quote:

Originally Posted by Good2go

I agree. People think they are expensive now? Wait til they see the Canadian prices. Target 2.0

They already know the Canadian prices. L.L. Bean already has an online store for Canadians this is simply their first brick and mortar location. They also don't have as aggressive of an expansion plan as Target did which was their downfall. I see this as a positive overall

theshark · #**5654** Posted **Mar 9, 2019, 1:45 PM**

Ccd Canada has a project card today for the Ihop restaurant.

https://www.ccdcanada.com/projects/?XID=1b660d6e-8144-467e-b9c9-b6d59ce0186f

MonctonRad · #**5655** Posted **Mar 9, 2019, 2:49 PM**

Good pick-up!!!

Quote:

INTERNATIONAL HOUSE OF PANCAKES, MONCTON

CCD Ref. Number : NB155891-19-02

Stage : 3-Planning or drawing

Published : February 18, 2019

Starting Date (estimated) : December 9, 2019

Size : Minor ($428,000)

Work type : New construction

Sector : Private

Category : 2-Commercial

Subcategories : 2G-Catering

Disciplines : ARCH, ELEC, EQUI, HVAC, MEC-B, STRUC, OTHER*

Location :

MONCTON (NB)
(Moncton - Richibucto)

Description :
NEW RESTAURANT -
Located in Moncton, this project (International House of Pancakes*) estimated at $428 000 is in the preliminary drawings stage, pending approvals. It is slated to begin on December 9, 2019. Works concern construction of a new restaurant. The planning phase being the most important one and consume 60% of the effort in developing the schedule.

OBSERVATIONS:

1) - work is to commence on December 9th, 2019, therefore the opening won't be until spring 2020, which would coincide with the anticipated opening of the Hyatt Place Hotel.
2) - the anticipated cost of $428k would be more in keeping with interior construction within a preexisting structure rather than a completely new build, again perhaps suggesting the finishing of a space in the Hyatt Place

Given that we already know there is a working relationship between IHOP and Corey Craig, I think the evidence is getting pretty overwhelming that the new IHOP will be located in the Hyatt Place Hotel.

lirette · #**5656** Posted **Mar 9, 2019, 3:20 PM**

Ugh

I get that people love these American breakfast chains but is there anything less pregame/preevent atmosphere than a plate of pancakes ? Isn't there supposed to be a patio as part of the restaurant? Ihop doesn't even serve alcohol. This is such an odd choice.

IHOP makes sense to me to attract hotel guests as its going to more appealing than your standard hotel breakfast but a downtown Hyatt Hotel across from the Avenir Centre & IHOP just seems like a jumbled mess. Is it possible there will be additional restaurant announced later? If that happens I'll withdraw my disappointment.

Hopefully the development on the V property adds a more fitting restaurant.

MonctonRad · #**5657** Posted **Mar 9, 2019, 3:21 PM**

Despite the recent announcements from some of the major retailing chains regarding their somewhat shaky futures, it is gratifying to note that both the Banana Republic Factory Store and Victoria's Secret have job adverts out on Indeed.com for their Moncton locations.......

MonctonBoy · #**5658** Posted **Mar 11, 2019, 1:12 PM**

Quote:

Originally Posted by MonctonRad

Good pick-up!!!

OBSERVATIONS:

1) - work is to commence on December 9th, 2019, therefore the opening won't be until spring 2020, which would coincide with the anticipated opening of the Hyatt Place Hotel.
2) - the anticipated cost of $428k would be more in keeping with interior construction within a preexisting structure rather than a completely new build, again perhaps suggesting the finishing of a space in the Hyatt Place

Given that we already know there is a working relationship between IHOP and Corey Craig, I think the evidence is getting pretty overwhelming that the new IHOP will be located in the Hyatt Place Hotel.

My sources tell me that the Hyatt will NOT be housing the new IHOP!

MonctonRad · #**5659** Posted **Mar 11, 2019, 1:16 PM**

Quote:

Originally Posted by MonctonBoy

My sources tell me that the Hyatt will NOT be housing the new IHOP!

My preference is that the IHOP goes elsewhere too, but the (circumstantial) evidence is there.

Reliability of your sources????

MonctonBoy · #**5660** Posted **Mar 11, 2019, 1:29 PM**

Quote:

Originally Posted by MonctonRad

My preference is that the IHOP goes elsewhere too, but the (circumstantial) evidence is there.

Reliability of your sources????

My sources are first-hand and without telling me flat out that it wasn't going to the Hyatt, I can confidently say it will not be going there.