The Metro Vancouver Retail Thread

[jollyburger]

Originally Posted by whatnext

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

It's okay, he's used to being wrong. Starbucks isn't going anywhere in Vancouver regardless of people being able to sit in their stores.

[Conrad Yablonski]

So if I read the SB release correctly they are reopening stores that were recently closed but not the ones who were shut just a few weeks/months before because 'we outta here'.

[officedweller]

Cadillac Fairview deferring rents for its retail tenants across Canada
https://dailyhive.com/vancouver/cadillac-fairview-rent-deferral-shopping-malls

Glut of spring inventory set to spur bargains when stores reopen
https://biv.com/article/2020/05/glut-spring-inventory-set-spur-bargains-when-stores-reopen

[GeeCee]

Since CF closed the interiors of their malls, I would sure as hell hope that they would be deferring rent.

[officedweller]

Yeah, a lot of it probably has to do with their move up-market to higher end fashion retailers, which meant that they didn't have many/any essential retailers in their their downtown malls.
That also means that they'll take a bigger hit than other mall owners who have a broader mix or focus on big box or strip malls that may have grocery or drug stores.

[connect2source]

J Crew has filed for Chapter 11 in the US.

https://dailyhive.com/vancouver/j-crew-bankruptcy

Park Royal store closed months ago, my guess is Robson will likely close too.

[SpongeG]

I was at J Crew a couple weeks before the covid closures started and there were maybe 6 customers at most. they were having a good sale 50% off lowest price on clearance and there were a lot of clothes, all sizes, some pants worked out to be less than $15, shirts under $10 and piles of them and no one shopping in the store. Banana Republic is probably their closest competition and they were quite busy at the same time,

[svlt]

Sad for J.Crew, they brought decent fashion to the masses in the late 2000s and kick started an interest in nice men's office wear at a great price. I hope they aren't completely liquidated and there is a buyer who can right the ship.

[officedweller]

I think Banana Republic has better sizing for asian customers.

[LeftCoaster]

Originally Posted by whatnext

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

It was causing a traffic jam on terminal when I was driving by the other day.

I personally don't care for their sub-standard coffee, but I do crave a frapp every now and then, especially as the summer months roll in.

Originally Posted by GeeCee

Since CF closed the interiors of their malls, I would sure as hell hope that they would be deferring rent.

CF Pacific Centre and CF Richmond Centre are still open. It's the retailers who have electively closed.

Go take a walk through Pacific Centre mid day, it's empty and super creepy.

[Sheba]

Originally Posted by LeftCoaster

CF Pacific Centre and CF Richmond Centre are still open. It's the retailers who have electively closed.

Go take a walk through Pacific Centre mid day, it's empty and super creepy.

Most of the stores in Metrotown mall are closed while the mall is still open too - walking through it from one end to the other has been pretty strange.

[dreambrother808]

Originally Posted by jollyburger

It's okay, he's used to being wrong. Starbucks isn't going anywhere in Vancouver regardless of people being able to sit in their stores.

Some will never learn that their own personal preferences are a highly inaccurate barometer of other people’s behaviour.

An opinion on the flavour-profile of Starbucks coffee does not correlate with any objective standard. Starbucks buys the highest quality coffee in the world, period. Anyone involved in the coffee industry knows that.

They are in an excellent position to weather this storm. One has many other businesses to worry about instead.

[Vin]

Originally Posted by dreambrother808

Some will never learn that their own personal preferences are a highly inaccurate barometer of other people’s behaviour.

An opinion on the flavour-profile of Starbucks coffee does not correlate with any objective standard. Starbucks buys the highest quality coffee in the world, period. Anyone involved in the coffee industry knows that.

They are in an excellent position to weather this storm. One has many other businesses to worry about instead.

https://www.coffeereview.com/starbucks-coffees-rate/

https://www.insider.com/coffee-experts-r...cording-to-experts-even-with-cold-foam-4


Not saying that Starbucks would not weather the storm. It is very well financed and can still pull in the crowds through their aggressive marketing strategies, ie. forever having that cool factor. Starbucks can even do very well when venturing into new markets, especially those lacking coffee culture, as it did in Canada before. However, it certainly won't do as well as before.

While in Belgium and the Netherlands earlier this year, I could hardly see any Starbucks, but upon the return to the UK, Starbucks was just everywhere, especially in Central London.

[dreambrother808]

Originally Posted by Vin

https://www.coffeereview.com/starbucks-coffees-rate/

https://www.insider.com/coffee-experts-r...cording-to-experts-even-with-cold-foam-4


Not saying that Starbucks would not weather the storm. It is very well financed and can still pull in the crowds through their aggressive marketing strategies, ie. forever having that cool factor. Starbucks can even do very well when venturing into new markets, especially those lacking coffee culture, as it did in Canada before. However, it certainly won't do as well as before.

While in Belgium and the Netherlands earlier this year, I could hardly see any Starbucks, but upon the return to the UK, Starbucks was just everywhere, especially in Central London.

If you actually search on that site for Starbucks coffees, you can find many that exceed the mentioned 90-point score for highest quality. Coffees in that range are very limited in terms of production, so they are usually only sold at Starbucks Reserve Stores. No coffee chain anywhere is providing them to a broad audience the size of Starbucks because it’s impossible.

A sugary caramel macchiato and the like are basically caffeinated candy, as is every other similar beverage at any cafe. I don’t drink them because they’re not my style.

[memememe76]

I seek out local coffeeshops but I am happy Starbucks is at least accepting walk-in takeout at more of their stores. The ones with drive-thrus have caused such traffic jams in my area.

[officedweller]

The ABC Dollar Store at Library Square was cleared out.
Looks like they couldn't recover after the car crashing into it a year or two ago and COVID.

[whatnext]

Originally Posted by jollyburger

It's okay, he's used to being wrong. Starbucks isn't going anywhere in Vancouver regardless of people being able to sit in their stores.

I think the danger for Sbux is the weeks long break in people's routine. My last Zoom meeting two coworkers both said "I've saved so much money working at home and not going to Starbucks!". That and those who did want coffee sought it out at smaller stores or chains that stayed open and might fee some loyalty to them now. It will be interesting to watch.

It also seems likely people will be much tighter with their money going forward. When you've had a scare that shows how close to the financial edge many are living that's understandable.

[jlousa]

At that is why we can expect Starbucks and a bunch of other chains to launch huge campaigns to win their customers back as soon as they reopen. Anyone else notice how McDs always seems to launch their $1 coffee when Timmies launchs their roll up the rim promo. If you have money in your pocket there is going to be a bunch of deals coming, the pain for the retailers especially the smaller ones is going to continue for a while still unfortunately.

[WarrenC12]

Originally Posted by whatnext

I think the danger for Sbux is the weeks long break in people's routine. My last Zoom meeting two coworkers both said "I've saved so much money working at home and not going to Starbucks!". That and those who did want coffee sought it out at smaller stores or chains that stayed open and might fee some loyalty to them now. It will be interesting to watch.

It also seems likely people will be much tighter with their money going forward. When you've had a scare that shows how close to the financial edge many are living that's understandable.

I see your point, but really don't see people changing their habit long term. Things will slip back into normal pretty quickly, all things equal.

Obviously a tough economy will be hard on retail and discretionary spending, as per usual. I don't expect Starbucks to suffer too much overall.

[Vin]

Sigh, all the Starbucks lovers out there. I say go support the chain if people love it so much. This morning I walked by at least 4 stores downtown and all of them were empty except for all the enthusiastic staff with masks standing around.