The Metro Vancouver Retail Thread

[officedweller]

That would still need member approval if it is substanitally all of the enterprise.

[whatnext]

This isn't good:

Canada’s malls are facing a wave of skipped rents and could see vacancy rates triple by year-end, with the coronavirus poised to leave its scars on a fragile retail sector long after the pandemic ends.

In the country’s enclosed regional malls -- a category that includes Toronto’s Eaton Centre and Pacific Centre in Vancouver -- only 20% to 25% of tenants paid rent in April, according to brokerage firm JLL Canada. Big box shopping centers and community strip malls took in only a little over half their expected rent.

“I’ve been in this business over 30 years and I have never seen anything as catastrophic or as impactful in a negative way in our business,” Tim Sanderson, who heads retail at JLL Canada, said in an interview. “It’s the mid-tier smaller-scale landlord that cannot make their mortgage payments to their lender that are going to be in trouble.”....(bold mine)

https://www.bloomberg.com/news/articles/...urging?srnd=premium-canada&sref=x4rjnz06

[NewfBC]

Originally Posted by whatnext

This isn't good:

Canada’s malls are facing a wave of skipped rents and could see vacancy rates triple by year-end, with the coronavirus poised to leave its scars on a fragile retail sector long after the pandemic ends.

In the country’s enclosed regional malls -- a category that includes Toronto’s Eaton Centre and Pacific Centre in Vancouver -- only 20% to 25% of tenants paid rent in April, according to brokerage firm JLL Canada. Big box shopping centers and community strip malls took in only a little over half their expected rent.

“I’ve been in this business over 30 years and I have never seen anything as catastrophic or as impactful in a negative way in our business,” Tim Sanderson, who heads retail at JLL Canada, said in an interview. “It’s the mid-tier smaller-scale landlord that cannot make their mortgage payments to their lender that are going to be in trouble.”....(bold mine)

https://www.bloomberg.com/news/articles/...urging?srnd=premium-canada&sref=x4rjnz06

Gap Inc. says it's not required to pay rent when governments or public-health authorities order store closures

https://www.straight.com/covid-19-pandem...ments-or-public-health-authorities-order

Ron.

[officedweller]

A few articles via Retail Insider:

Foodora to shut down in Canada on May 11 amid profitability challenges
https://www.ctvnews.ca/business/foodora-...-amid-profitability-challenges-1.4913765

Canada’s meat-and-potato problem: Coronavirus pandemic hits the food supply chain
https://globalnews.ca/news/6870689/coronavirus-canada-food-supply/

B.C.'s road to recovery: Province’s fashion retailers face multiple barriers
https://biv.com/article/2020/04/bcs-road...fashion-retailers-face-multiple-barriers

[SpongeG]

I've noticed finding pork the last week or so is really tough, for a while it was hard to find beef and chicken and there was plenty of pork, now its the other way around.

[cairnstone]

I wonder how Gap will spin this. I see alot of retailers using Covid to get rid of a dead wait stores.

[s211]

Originally Posted by NewfBC

Gap Inc. says it's not required to pay rent when governments or public-health authorities order store closures

https://www.straight.com/covid-19-pandem...ments-or-public-health-authorities-order

Ron.

I'll bet they're claiming force majeure and, for the vast majority of leases, that doesn't fly, as those clauses are typically meant to speak to construction-related matters.

[officedweller]

There's often either "epidemic" or "change of law" mentioned in force majeure clauses.
In the case of a lease, holding the tenure for the term goes beyond the construction / improvement phase.

[officedweller]

Extensive! Retail Insider walking tour of stores downtown.

Dunn's Tailors is closing down permanently.

Downtown Vancouver Amid the COVID-19 Shutdown: Walking Tour [Photos]
https://www.retail-insider.com/retail-in...he-covid-19-shutdown-walking-tour-photos

[jollyburger]

Originally Posted by officedweller

Extensive! Retail Insider walking tour of stores downtown.

Dunn's Tailors is closing down permanently.

Downtown Vancouver Amid the COVID-19 Shutdown: Walking Tour [Photos]
https://www.retail-insider.com/retail-in...he-covid-19-shutdown-walking-tour-photos

Dunn's has been saying they were closing since last summer

https://local.vancouversun.com/vancouver...ndlord-has-demanded-a-48-percent-lease-r

[whatnext]

This is good news, well except maybe for Vin

VANCOUVER -- Starbucks Canada is planning to reopen as many stores as it can in the country by the end of next month.

The global chain says in a release that which stores reopen will be “determined on a community-by-community basis.”

Most locations were closed when the COVID-19 pandemic took hold in Canada in March, and the few stores that remained open have been restricted to mobile orders and drive-thru service...

https://bc.ctvnews.ca/starbucks-reopening-more-canadian-locations-for-take-out-delivery-1.4917304

[WarrenC12]

Starbucks (and McDonald's) seemed to go beyond the current requirements in BC, and I'm not sure why. Was it just a national strategy to match Ontario and Quebec restrictions?

[bluefox]

Originally Posted by officedweller

Foodora to shut down in Canada on May 11 amid profitability challenges
https://www.ctvnews.ca/business/foodora-...-amid-profitability-challenges-1.4913765

Wow, is that ever lazy journalism by CTV, basically parroting the corporate talking points. Embarrassing. Foodora is just mad their delivery folks won the right to unionize and so they're throwing a fit and leaving. They won't be missed. It's not simply "profitability challenges" when you file for bankruptcy so you don't have to pay what you owe on your way out the door.

In other news, I've noticed that quite a few grocery stores have re-extended their hours in the past week. Superstore seems to be open until 10pm now instead of just 8 and I think I saw a couple of Safeways or Save-ons going back to later closing times now. I wonder if we'll see more of that now that grocery stores seem to have their cleaning and social distancing protocols nailed down.

[cairnstone]

Has toilet paper returned yet?

[s211]

Originally Posted by cairnstone

Has toilet paper returned yet?

Once in awhile. I think you have to go early.

[jollyburger]

Originally Posted by s211

Once in awhile. I think you have to go early.

Pretty much seen everyone stocked with in the last week or two.

[Vin]

Originally Posted by whatnext

This is good news, well except maybe for Vin

VANCOUVER -- Starbucks Canada is planning to reopen as many stores as it can in the country by the end of next month.

The global chain says in a release that which stores reopen will be “determined on a community-by-community basis.”

Most locations were closed when the COVID-19 pandemic took hold in Canada in March, and the few stores that remained open have been restricted to mobile orders and drive-thru service...

https://bc.ctvnews.ca/starbucks-reopening-more-canadian-locations-for-take-out-delivery-1.4917304

Bring it on. Let's see how people would choose to buy sub-par overpriced coffee when they can't sit down to socialize in the cafes.

[Vin]

Originally Posted by bluefox

Wow, is that ever lazy journalism by CTV, basically parroting the corporate talking points. Embarrassing. Foodora is just mad their delivery folks won the right to unionize and so they're throwing a fit and leaving. They won't be missed. It's not simply "profitability challenges" when you file for bankruptcy so you don't have to pay what you owe on your way out the door.

In other news, I've noticed that quite a few grocery stores have re-extended their hours in the past week. Superstore seems to be open until 10pm now instead of just 8 and I think I saw a couple of Safeways or Save-ons going back to later closing times now. I wonder if we'll see more of that now that grocery stores seem to have their cleaning and social distancing protocols nailed down.

Unionized food delivery may not necessarily be a good thing, especially in a very competitive environment. Besides, food delivery is a good gig for many young part-timers who can opt to move on to something else later in life. No need to cripple such a company with the 🞵🞵🞵🞵🞵🞵🞵 of a union.

[bluefox]

Originally Posted by Vin

Unionized food delivery may not necessarily be a good thing, especially in a very competitive environment. Besides, food delivery is a good gig for many young part-timers who can opt to move on to something else later in life. No need to cripple such a company with the 🞵🞵🞵🞵🞵🞵🞵 of a union.

I think you're giving them way too much room here. Remember these companies have tried very hard not to have to classify their workforce as employees at all for this reason. I'm not singling out Foodora; but they're the latest example.

If you can't do business while at the same time allowing those workers to have some dignity -- side job or not -- your business model is unfeasible. Or you simply don't deserve to be in business.

[whatnext]

Originally Posted by Vin

Bring it on. Let's see how people would choose to buy sub-par overpriced coffee when they can't sit down to socialize in the cafes.

Judging by the lineup at their drive-thru quite a few people will.