The Metro Vancouver Retail Thread

[WarrenC12]

Originally Posted by dreambrother808

You’re delusional and have no source of knowledge about the company other than through Google and your fantasies. Some of us actually know what we’re talking about here.

It’s not personal. I just get frustrated when I see people peddling things I know to be entirely untrue.

Agreed. Especially when it's the same people being wrong again and again.

[dreambrother808]

Comparing a third-wave coffee shop that maybe breaks even or is lucky to hit a 5% profit margin to a large corporation like Starbucks with all of the efficiencies that entails is naive and shows a lack of knowledge. Such a large company isn’t necessarily satisfied with 5% and won’t hesitate to close such a location in order to boost the margin at a nearby one and therefore make more money overall, increasing shareholder value. It’s simple economics. As you can see, they weren’t operating at a loss, it wasn’t an indicator of decreasing sales year-over-year, it was a calculated decision to make more money. This is very different than a company in a tough spot closing stores to keep the business afloat.

Food service businesses struggle to hit even that 5% meanwhile a large chain lives in a different playing field where the goal is 10, 15, or 20%. A locally-owned cafe might stay open and be considered “successful” in the 5% range while a company like Starbucks might close it up at the same profit margin.

[WarrenC12]

Originally Posted by dreambrother808

Food service businesses struggle to hit even that 5% meanwhile a large chain lives in a different playing field where the goal is 10, 15, or 20%. A locally-owned cafe might stay open and be considered “successful” in the 5% range while a company like Starbucks might close it up at the same profit margin.

Well said, and very true. I've been a SBUX owner for years and it has done very well for me.

Starbucks also thinks nothing of throwing up multiple stores at the same time in close proximity. Their efficiency in turning an empty CRU into a functioning location shouldn't be overlooked either.

[SpongeG]

not related to Vancouver but Starbucks is rapidly expanding in South Africa right now.

In November, Starbucks said it will open eight new stores in four weeks in Cape Town, Stellenbosch, Johannesburg and Pretoria as part of a major investment drive in South Africa.

https://businesstech.co.za/news/business/448819/starbucks-to-launch-inside-select-checkers-stores/

----

I was at the Starbucks on Natal and Grandview Highway the other day and there was a long lineup of people, almost to the door, it's not in a very easily located spot yet it was really busy.

The one in Lougheed Mall yesterday when I passed also had a very long lineup out to the entrance of the store, 6 ft apart of course, and a good dozen people waiting for their drinks. They're doing something right.

[SpongeG]

Jo Malone is opening up in Pacific Centre

https://www.styledemocracy.com/beauty-brand-jo-malone-opening-in-canada/

[RDW989]

Where Foot Locker was on Robson (at Hornby), lots of signage up for a Peloton store (an addition to the Park Royal store)

[SpongeG]

the footlocker

2020-11-19_05-34-04 by snub_you, on Flickr

[Sheba]

This doesn't make me think The Bay is doing well...

Penticton shopping centre and the Bay embroiled in pandemic-related rent dispute

Penticton’s Cherry Lane Shopping Centre is trying to evict the Bay for allegedly owing more than half a million dollars in rent.

...

However, in a court petition, Cherry Lane Shopping Centre alleges that the store hasn’t paid rent since April.

Landlords sue Hudson’s Bay for unpaid rent at multiple Quebec locations

Two landlords of the Hudson’s Bay Co. are suing the retailer for unpaid rent, alleging the iconic department store that anchors shopping malls across Canada hasn’t paid its bills at multiple locations since April.

...

Court documents allege HBC owes more than $3.5 million in rent and other fees at five Quebec shopping malls, an amount that continues to climb by more than half a million dollars each month.

HBC sues landlord of Yorkdale, Square One alleging failure to run ‘first class’ malls

“HBC has not paid rent since April 1 at most of our shopping centres across Canada, and seven months of recurring attempts to engage the company in a constructive dialogue were repeatedly ignored,” it wrote.

[SpongeG]

HBC just won, sort of, some cases in Ontario. They cannot be evicted from the malls suing and they must pay 50% of what they owe.

https://www.cbc.ca/news/business/hbc-landlord-oxford-rent-1.5799280

[connect2source]

Peloton is opening in the old Foot Locker space at Robson and Hornby, walked by yesterday looks like they're well underway with the build-out.

https://dailyhive.com/vancouver/peloton-919-robson-street-vancouver

[GeeCee]

The doors were locked at Hudson's Bay location in Coquitlam Centre today:

https://www.tricitynews.com/news/hudson-...-on-rent-has-lease-terminated-1.24243412

[Conrad Yablonski]

Originally Posted by GeeCee

The doors were locked at Hudson's Bay location in Coquitlam Centre today:

https://www.tricitynews.com/news/hudson-...-on-rent-has-lease-terminated-1.24243412

I wonder if they even told the Staff not to bother coming in to work.

My guess is probably not.

[SpongeG]

Sungiven Foods is opening in Richmond on Bridgeport in the old Pier 1 location.

they are also opening in North Van at the old Pier 1 location.

[jollyburger]

Originally Posted by SpongeG

Sungiven Foods is opening in Richmond on Bridgeport in the old Pier 1 location.

they are also opening in North Van at the old Pier 1 location.

And South Surrey #3211 152nd Street

https://sungivenfoods.ca/locations

[NewfBC]

Hudson's Bay store in Coquitlam has defaulted on rent, landlord takes possession
https://bc.ctvnews.ca/hudson-s-bay-store...rent-landlord-takes-possession-1.5199603

VANCOUVER -- A Hudson's Bay store in Coquitlam is closed, and a letter posted on its front door indicates that the closure is due to lack of payment of rent.

The letter on the door of the department store inside Coquitlam Centre mall indicates that the landlord, Pensionfund Realty Limited, has terminated the store's lease "for default in the payment of rent."

Ron.

[whatnext]

Originally Posted by Conrad Yablonski

I wonder if they even told the Staff not to bother coming in to work.

My guess is probably not.

Apparently it was the landlord who locked them out. Risky strategy as who would fill that space now?

[Changing City]

Originally Posted by whatnext

Apparently it was the landlord who locked them out. Risky strategy as who would fill that space now?

News reports suggest it's gone beyond just locking them out. The lease has been terminated for non-payment (as was noted above). It would be interesting to know who gets the stock they left behind in this situation.

[WarrenC12]

Originally Posted by Changing City

News reports suggest it's gone beyond just locking them out. The lease has been terminated for non-payment (as was noted above). It would be interesting to know who gets the stock they left behind in this situation.

We need this fire sale pre-xmas.

[jollyburger]

Originally Posted by Changing City

News reports suggest it's gone beyond just locking them out. The lease has been terminated for non-payment (as was noted above). It would be interesting to know who gets the stock they left behind in this situation.

Seems like it would be settled in the courts but you would assume they would try to seize it since they are still owed rent.

[jollyburger]

Originally Posted by whatnext

Apparently it was the landlord who locked them out. Risky strategy as who would fill that space now?

New condos.