[Moncton] Retail Thread - Page 324

MonctonRad · #**6461** Posted **Jun 10, 2020, 12:35 PM**

Quote:

Originally Posted by DyAm00394

I've noticed something interesting. In the recently updated floor plan (June.3rd 2020), H&M is marked as "vacant". At the bottom of the floor plan it says "for discussion purposes only", so I wonder if there is some behind the scenes discussions going on about H&M's unit?

And on the floor plan all of the other units that are/will be vacant are already marked as "vacant". So this info does seem up to date/accurate. I'm wondering if H&M is closing? or will be downsizing (and the unit will be split up)? or could they be moving to a different unit?

I think they may be downsizing and splitting the unit like a lot of chatter I've seen before.

https://cfretailcadata.s3.amazonaws.com/...iT-EtFO5_B4zHoSNS78Fn0bJGnR-uA7i_mdHhmfo

Interesting.

We have seen this before on CF's floor plans, and it doesn't necessarily mean that a store is closing. It generally means "lease is up for negotiation and everything is on the table."

Having said this, there were rumours over the last 12-18 months that H&M might downsize (their store is quite large), and could be split into two units. One rumour in particular was that the unit would be split, with H&M occupying one side and Old Navy the other side. I think this is plausible.

But, given the current retail armageddon occurring in North America, almost anything is possible........

BlackYear · #**6462** Posted **Jun 10, 2020, 1:30 PM**

Quote:

Originally Posted by MonctonRad

Structural steel is now going up for the new retail plaza in the Granite Centre

Retail Talk & Share photo

Anyone know what's going up here?
Disregard, found my answer in another thread. A multi unit plaza. Gross!

MonctonRad · #**6463** Posted **Jun 10, 2020, 1:35 PM**

I think this is being built completely on speculation. They haven't even leased all the current units available. Retail in North America is in full contraction mode right now (Amazon & COVID). Bankruptcies are everywhere. I can't imagine why this plaza is being built.........

MonctonRad · #**6464** Posted **Jun 10, 2020, 2:23 PM**

From the Canada section:

Quote:

Originally Posted by goodgrowth

Starbucks to permanently close 400 stores in U.S. and Canada; warns of 45% sales drop

https://business.financialpost.com/pmn/b...it-to-q3-operating-income-from-covid-19?

MonctonRad · #**6465** Posted **Jun 10, 2020, 4:51 PM**

Further to the above, fully half of these closures will be in Canada (200 locations). There are currently 1400 Starbucks in Canada.

Since there are seven Starbucks locations in greater Moncton, it would not be unreasonable to assume at least one Moncton location will close.

NBNYer · #**6466** Posted **Jun 10, 2020, 5:26 PM**

Quote:

Originally Posted by MonctonRad

Further to the above, fully half of these closures will be in Canada (200 locations). There are currently 1400 Starbucks in Canada.

Since there are seven Starbucks locations in greater Moncton, it would not be unreasonable to assume at least one Moncton location will close.

If I had to guess which was the most at risk of closing, it would be Elmwood drive. Both because of the brand new location on Granite about 1.5km away and the fact that all the others seem very busy most of the time.

jonny golden · #**6467** Posted **Jun 10, 2020, 6:03 PM**

Quote:

Originally Posted by MonctonRad

Further to the above, fully half of these closures will be in Canada (200 locations). There are currently 1400 Starbucks in Canada.

Since there are seven Starbucks locations in greater Moncton, it would not be unreasonable to assume at least one Moncton location will close.

Some interesting quotes from the Global News story:

"Starbucks said it typically closes about 100 company-operated stores each year in North America, mainly due to leases expiring."

"Some of the Canadian stores up for closure will be 're-positioned' the company said, which suggests they could either move to a new area or change format."

"The company plans to add 300 new stores this year, a more restrained target than its initial 600 locations, but it’ll come with the closure of up to 400 company-operated stores over the next 18 months."

MonctonRad · #**6468** Posted **Jun 12, 2020, 5:28 PM**

And the apocalypse continues........

The parent company of Lole (with a location at the Plaza Boulevard Centre) has filed for bankruptcy.

And for those who like the Zara at HSC, this chain is also filing.......

MonctonRad · #**6469** Posted **Jun 12, 2020, 5:46 PM**

Bone & Biscuit is finally opening at the Granite Centre (June 15th).

DyAm00394 · #**6470** Posted **Jun 12, 2020, 11:27 PM**

Cineworld says it's terminating $2.8B takeover of Canada's Cineplex

https://www.cbc.ca/news/business/cinewor...EDLUfwch_TUYX4vHYQxIscKX8SZc4i_dOTTOPct0

Quote:

"U.K. cinema operator cites 'certain breaches' of acquisition deal with theatre chain.
Cineworld PLC says it has terminated its $2.8-billion takeover of Canadian movie theatre chain Cineplex Inc. after "certain breaches" of the acquisition deal.

The U.K-based theatre chain says it is backing away from the deal after becoming aware of what it called a material adverse effect and breaches to the agreement by Toronto-based Cineplex.

Cineworld did not specify what the breaches or effect was in a statement it released, but said Cineplex denies they have occurred.

Cineworld said Cineplex has also separately alleged that Cineworld failed to comply with its obligations under the acquisition agreement.
The spat comes after Cineworld struck a takeover deal with Cineplex, announced late last year, which valued Canada's largest movie chain at $34 per share, a 42 per cent premium on the chain's stock price at the time.

Cineworld operates 9,498 screens across 786 sites across the globe, but its acquisition of Cineplex would have added 165 Canadian theatres and 1,695 screens to that count."

Taeolas · #**6471** Posted **Jun 12, 2020, 11:33 PM**

All in all a good thing I think. But with the current state of the Cinema industry I'm not sure what will happen. If Cineplex were smart, they would accelerate some of their site renewal plans while they have some downtime. But that would be betting on a decent recovery which may be an iffy bet to make.

MonctonRad · #**6472** Posted **Jun 13, 2020, 3:03 AM**

Good.

I was never a fan of the proposed takeover by Cineworld.

Cineworld is a worldwide conglomerate, whose North American operations are run out of Knoxville, Tennessee (of all places). If they had taken over Cineplex, then the former Cineplex assets in Canada would effectively have been run out of Tennessee too, with only a "shell" office in Toronto.

I doubt that any VP in Knoxville would have any idea where Moncton, Fredericton etc actually are.

At least Canadian ownership and Canadian management would guarantee some familiarity with the local Maritime market. In addition, Cineplex remaining independent at least gives us a glimmer of hope towards theatre renovations, possible IMAX developments and/or associated Playdiums or Rec Room.

A Cineworld takeover would have destroyed all of that..........

MonctonRad · #**6473** Posted **Jun 13, 2020, 9:46 PM**

There is a strong rumour over at Retail Talk & Share that Victoria's Secret/Pink at CF Champlain is now closed permanently. The COVID crisis probably tipped their hand. The VS chain is in some difficulty continent wide and is in contraction mode.

I am in pretty close communication with one of the senior people over at Retail Talk & Share, and i have no doubt that this rumour is likely true.

I think the time has come to have a serious discussion about the future of CF Champlain. The mall is getting clobbered by the COVID crisis (on top of the retail apocalypse), and I think the plans of CF to market Champlain Place as a fashion mall have hit a large shoal. The future of CF Champlain as a fashion mall may in fact be over.

What will this mean for the future of the mall? Since it is the only enclosed mall in the metro area, it obviously isn't going to be going anywhere, but if Champlain Place isn't going to be a fashion mall, will CF want to continue holding the mall in it's portfolio? We may see Champlain Place up for sale sometime in the near future.

MonctonRad · #**6474** Posted **Jun 13, 2020, 10:37 PM**

And the rumour is now confirmed (store managers FB page) - Victoria's Secret/Pink is now permanently closed at CF Champlain.

MonctonRad · #**6475** Posted **Jun 13, 2020, 10:57 PM**

And The Children's Place has just announced plans to close 1/3rd of their stores in North America this year. Will Champlain Place escape this one????

drewber · #**6476** Posted **Jun 15, 2020, 11:54 AM**

There's some talk that La Diperie is looking for a franchisee in the Dieppe area. Wondering if maybe they could take the empty corner in the mall where the gelato place used to be? They currently have locations in Montreal and Toronto.

https://www.ladiperie.com/

OUIR@random · #**6477** Posted **Jun 15, 2020, 2:30 PM**

La Diperie reminds me a bit of Sweet Jesus based out of Toronto. Very similar concept, but not as lavish or over the top!

lirette · #**6478** Posted **Jun 15, 2020, 2:30 PM**

Quote:

Originally Posted by drewber

There's some talk that La Diperie is looking for a franchisee in the Dieppe area. Wondering if maybe they could take the empty corner in the mall where the gelato place used to be? They currently have locations in Montreal and Toronto.

https://www.ladiperie.com/

Location will be really important, Dieppe already has Bennic which is very popular and has many of these same products.

I dont know if we would ever see it, but I'd love to see the mall go a totally different direction in the future. More food offerings and a stonger focus on local operators.

If everything is switching to amazon/online retailers, people will still support local. At the moment I go to the mall maybe once or twice a year because there really isn't much that entices me to go. Whether that type of model would work I dont know, you might need a rec room type business in there to bring even more foot traffic. The mall as a "hang out" always felt like either a place for teenagers to hang out on weekends, or seniors to walk around, but never felt like a hip place to go for the 20-40's crowd.

I guess the biggest challenge is high rents.

At the same time I'd love to see more shopping downtown as well

jonny golden · #**6479** Posted **Jun 15, 2020, 2:45 PM**

Quote:

Originally Posted by lirette

Location will be really important, Dieppe already has Bennic which is very popular and has many of these same products.

I dont know if we would ever see it, but I'd love to see the mall go a totally different direction in the future. More food offerings and a stonger focus on local operators.

If everything is switching to amazon/online retailers, people will still support local. At the moment I go to the mall maybe once or twice a year because there really isn't much that entices me to go. Whether that type of model would work I dont know, you might need a rec room type business in there to bring even more foot traffic. The mall as a "hang out" always felt like either a place for teenagers to hang out on weekends, or seniors to walk around, but never felt like a hip place to go for the 20-40's crowd.

I guess the biggest challenge is high rents.

At the same time I'd love to see more shopping downtown as well

If/When they ever build the new east-west street south of Main Street, there'll be a big opportunity to create more downtown shopping. The trend of ground floor retail with residential above would help accomplish that. Here's a quote from Jim Dixon of Ashford Group when interviewed by CBC after their big downtown purchase:

"I see opportunity," Jim Dixon, a principal with Ashford and its chief financial officer, said as he stood in the parking lot behind the jail. He described a vision of more retail, restaurants, office space and residential units on top.

MonctonRad · #**6480** Posted **Jun 15, 2020, 7:03 PM**

from the Canada section:

Quote:

Originally Posted by Jeff

Men's clothing retailer Moore's parent company (Tailored Brands) is close to bankrupcy next.

https://www.cnn.com/2020/06/14/investing/mens-wearhouse-bankruptcy-threat/index.html

The embedded CNN article also mentions "Ascena Retail Group (ASNA), owner of clothing chains Lane Bryant, Justice, Ann Taylor and Dress Barn, which recently warned there is "substantial doubt" about its ability to remain in business.

So, both Moore's and Justice in Moncton may also be at risk..........