The Metro Vancouver Retail Thread

[Tetsuo]

^^^^ Vancouver proper

Still a Gap Kids in Kerrisdale, and maybe Oakridge

[SpongeG]

Originally Posted by dreambrother808

Isn’t there still one in Metrotown?

yes but the City of Vancouver has lost all the ones it had, Robson Street gone, Oakridge Centre gone and now Pacific Centre is gone. Not sure if the Gap kids still exists in Kerrisdale.

Guildford and Metropolis still have stores.

[Vin]

When it comes to good retail, me think that Vancouver is a joke. Time to plan for another good mall or retail centre downtown.

Merry Christmas guys!

[Changing City]

Originally Posted by Vin

When it comes to good retail, me think that Vancouver is a joke. Time to plan for another good mall or retail centre downtown.

Merry Christmas guys!

Bah! Humbug! Gap announced in the spring that almost half of the brand’s locations in Canada and the US would close over the next two years. That was a month after Payless announced they were all their Canadian stores, and HBC shuttered Home Outfitters. Can't wait to see VinWorld open its doors.

[Tetsuo]

Gap and the Banana Republic banners are their weak spots.

Old Navy and Athleta are the "bright spots"

But Old Navy is getting spun out, which only further weakens the future of Gap/BR IMO

[Vin]

Originally Posted by Changing City

Bah! Humbug! Gap announced in the spring that almost half of the brand’s locations in Canada and the US would close over the next two years. That was a month after Payless announced they were all their Canadian stores, and HBC shuttered Home Outfitters. Can't wait to see VinWorld open its doors.

Keep denying it and see more retail shops shuttered in Vancouver while they stay open in other municipal town centres.

[Sheba]

Originally Posted by Vin

Keep denying it and see more retail shops shuttered in Vancouver while they stay open in other municipal town centres.

How so? Payless seeks creditor protection, plans to close stores in U.S. and Canada - Feb 19, 2019. Gap stores to close in Canada - Mar 1, 2019. Those cover all of Canada and not just Vancouver.

[SpongeG]

I am sad to see GAP going, I shop online all the time, they have a better selection online and I know their sizes well enough so never have a problem. Their GAP Factory stores are not the same quality but they seem to be adding those stores.

[Changing City]

Originally Posted by SpongeG

I am sad to see GAP going, I shop online all the time, they have a better selection online and I know their sizes well enough so never have a problem. Their GAP Factory stores are not the same quality but they seem to be adding those stores.

You've probably just explained why they're closing stores. The more customers shop online, the less viable brick-and-mortar stores are.

Those several thousand Amazon employees soon to arrive in the city suggest online retail isn't getting any less important, which is why there have been more brands and stores closing across North America in the past few years. It also explains why property developers are very unlikely to risk a big investment in retail centres that aren't already established. Improving existing shopping malls seems a worthwhile risk (so far), but even those could struggle if retail continues to move to online at the rate it has in recent years.

[Tetsuo]

Originally Posted by SpongeG

I am sad to see GAP going, I shop online all the time, they have a better selection online and I know their sizes well enough so never have a problem. Their GAP Factory stores are not the same quality but they seem to be adding those stores.

Lost leadership resulting in the GAP factory, and poor pricing measures, they are discounting hugely, but then people online complain how in the states and canada the prices are the same, without measuring for currency differences, aka 1:1 CAD:USD

death spiral of overbuying to hit that comp number, markdowns to remove glut of merchandise, brand erosion as consumers realize they overpaid, reducing the quality of product to save a few pennies which leads to brand erosion

[whatnext]

It was pretty quiet on South Granville today. Williams-Sonoma has way less Christmas stuff to blow out this year. I guess that “Going Out of Business-Oops No We’re Not” helped them move that merchandise early. Interestingly I noticed the same was true at Pottery Barn, not much Christmas left.

[Vin]

Originally Posted by Sheba

How so? Payless seeks creditor protection, plans to close stores in U.S. and Canada - Feb 19, 2019. Gap stores to close in Canada - Mar 1, 2019. Those cover all of Canada and not just Vancouver.

Downtown Vancouver should be the retail creme of the crop in the Lower Mainland, and where most major retailers would want to position themselves to be at, but apparently not anymore. It's not like GAP is closing ALL their stores, just selected ones, and of course, the sub-par Vancouver ones need to go.

So my point stands: retail in the City of Vancouver is going downhill: mostly due to people in denial and planners who can't keep up with the times.

Originally Posted by whatnext

It was pretty quiet on South Granville today. Williams-Sonoma has way less Christmas stuff to blow out this year. I guess that “Going Out of Business-Oops No We’re Not” helped them move that merchandise early. Interestingly I noticed the same was true at Pottery Barn, not much Christmas left.

Exactly my point.

Originally Posted by Changing City

You've probably just explained why they're closing stores. The more customers shop online, the less viable brick-and-mortar stores are.

Those several thousand Amazon employees soon to arrive in the city suggest online retail isn't getting any less important, which is why there have been more brands and stores closing across North America in the past few years. It also explains why property developers are very unlikely to risk a big investment in retail centres that aren't already established. Improving existing shopping malls seems a worthwhile risk (so far), but even those could struggle if retail continues to move to online at the rate it has in recent years.

Why are Vancouver area town centre malls doing so well then? Come on, don't parrot what the media says. See the situation of our own town with our own eyes and make our own judgement accordingly.

[logan5]

Gap is for hicks.

Of course a store like that does better in the suburbs.

[GeeCee]

I imagine real estate costs in Vancouver play a much larger factor than the current state of Robson.

[Vin]

Originally Posted by logan5

Gap is for hicks.

Of course a store like that does better in the suburbs.

I suppose Simons is for hicks too then.

Vancouver proper has more hicks than you can imagine.

[Changing City]

Originally Posted by Vin

Why are Vancouver area town centre malls doing so well then? Come on, don't parrot what the media says. See the situation of our own town with our own eyes and make our own judgement accordingly.

What's the second best performing mall in Canada (after Yorkdale Shopping Centre)? Pacific Centre Mall. Oakridge is third - CF Toronto Eaton Centre, Toronto follows next. That seems to suggest that the situation with our own town isn't too bad overall.

Characteristics of successful malls? They're not low cost locations to operate. If you're a business facing falling sales because you're challenged by sharper rivals and online stores (or even your own online offering), you might need to close a lot of stores. GAP are doing that. In the meantime H&M closed 160 stores worldwide, and yet have invested heavily in Vancouver Centre and expanded significantly. So some retailers are still doing OK - and they've opened a second COS store on Robson Street as well.

See it's subtle, nuanced, probably hard to follow if a single 'store closing' announcement is understood as 'we're all doomed, but it would all be better if we had a New Mall'. In the meantime online retail in Canada went from 7.5% of sales in 2017 to 10% in 2019. That's a real, significant change that explains why the retail sector is generally being cautious, especially as retail sales overall aren't going up much either.

[officedweller]

Originally Posted by whatnext

It was pretty quiet on South Granville today. Williams-Sonoma has way less Christmas stuff to blow out this year. I guess that “Going Out of Business-Oops No We’re Not” helped them move that merchandise early. Interestingly I noticed the same was true at Pottery Barn, not much Christmas left.

I noticed that stores aren't carrying as much Christmas decorations and stuff as they used to. Probably has to do with the cost of rent and the low profit margin on that stuff.
Suburban stores have lower rent and more sq ftage so may be able to stock more.

[SpongeG]

Miniso in Coquitlam Centre is closing down, everything is 50 - 80% off.

[204]

Originally Posted by officedweller

I noticed that stores aren't carrying as much Christmas decorations and stuff as they used to. Probably has to do with the cost of rent and the low profit margin on that stuff.
Suburban stores have lower rent and more sq ftage so may be able to stock more.

Could be the percentage of people who celebrate Christmas (mostly those of European heritage) is shrinking rapidly.

[officedweller]

Could be. Plus people don't have space to store the stuff either.