The Metro Vancouver Retail Thread

[WarrenC12]

Originally Posted by NewfBC

I wonder if they're reopening in the old location - Broadway/Cambie? There's some work being done in that space. Or has it been confirmed that's the space Jollibee is taking?

Ron.

I wondered that too, but it's a ways from opening, and this one disappeared over a weekend. Seems a bit early unless it was lease timing or something.

[whatnext]

Originally Posted by WarrenC12

Starbucks at Cambie and West 7th is gone. I'm a bit surprised as this survived the great purge of a few months back when 2 other locations in the area were closed. Now there's nothing on that section of Broadway anymore.

Starbucks is fast becoming irrelevant in Vancouver's coffee market. Even if their strategy was to bail on spaces now and release later at better terms, customers have moved on.

[Klazu]

Originally Posted by whatnext

Starbucks is fast becoming irrelevant in Vancouver's coffee market. Even if their strategy was to bail on spaces now and release later at better terms, customers have moved on.

And that's a good thing. I am happy for companies like Starbucks and Disney to be hurting. It will help more local brands to emerge in the coffee space.

[WarrenC12]

Originally Posted by Klazu

And that's a good thing. I am happy for companies like Starbucks and Disney to be hurting. It will help more local brands to emerge in the coffee space.

They aren't hurting at all, you might want to check the stock price of both.

As for local coffee, sure, there are some good local shops. They wouldn't have existed without Starbucks though.

[Vin]

Originally Posted by WarrenC12

They aren't hurting at all, you might want to check the stock price of both.

As for local coffee, sure, there are some good local shops. They wouldn't have existed without Starbucks though.

You mean people who are misled to pump in more lifesavings into Starbucks stocks? Again never measure the health of a company solely based on stock prices. Stock plunges isn't something new.

I can only say one thing: Starbucks is heck of a marketer selling well-wrapped but lousy products.

[whatnext]

Originally Posted by WarrenC12

They aren't hurting at all, you might want to check the stock price of both.

As for local coffee, sure, there are some good local shops. They wouldn't have existed without Starbucks though.

They're not hurting in the USA where their "drive thru's for all" strategy might be working. It's telling they don't break out their Canadian results, as I would bet they are significantly worse.

If Starbucks wants to become the Macdonalds of Coffee, have at it. But it's a significant departure from the previous market image they tried to cultivate. If I wanted consistent drive thru coffee, I'd actually go to Macdonalds and get it at a way cheaper price.

[WarrenC12]

Originally Posted by Vin

You mean people who are misled to pump in more lifesavings into Starbucks stocks? Again never measure the health of a company solely based on stock prices. Stock plunges isn't something new.

I can only say one thing: Starbucks is heck of a marketer selling well-wrapped but lousy products.

I've been a shareholder for 10+ years and it's one of my better performing individual holdings.

It's possible that they are overpriced like many equities these days, but they have been profitable forever. They've beaten earnings the last 4 quarters in a row. But please, go on about how they are falling apart...

[SpongeG]

that Starbucks was really big, almost too big now that sitting in a Starbucks doesn't seem like an option.

I was at a Starbucks in Surrey, the 152 Guildford location, the drive-thru around 4 pm on a Saturday had a constant line of about 10 cars continuously. I had to go inside and pick up but no one was sitting inside, the outside tables had people and there were a few people hanging outside by their cars in small groups.

I don't drink coffee and they have the only chai I like.

[whatnext]

Originally Posted by SpongeG

that Starbucks was really big, almost too big now that sitting in a Starbucks doesn't seem like an option.

I was at a Starbucks in Surrey, the 152 Guildford location, the drive-thru around 4 pm on a Saturday had a constant line of about 10 cars continuously. I had to go inside and pick up but no one was sitting inside, the outside tables had people and there were a few people hanging outside by their cars in small groups.

I don't drink coffee and they have the only chai I like.

Well, it is Starbucks problem they don't slow sitting indoors. There's plenty of coffee shops do while following the guidelines, I'm not sure why Sbux went all chicken little with it.

If they think they can sustain their price premium by becoming the equivalent of a vendor of McHappy meals they're dreaming.

[FarmerHaight]

1. Starbucks isn't hurting, they have just changed their strategy.
2. McDonald's and Starbucks both offering drive-thrus does not make them analogous. McDonald's most poplar coffee is drip while Starbucks still mostly sells espresso.
3. Stock prices are built almost completely built on public perception, so it doesn't matter how Starbucks is actually performing as long as people think the company is performing well.
4. Every local coffee shop can thank Starbucks for popularizing hand-crafted coffee. Starbucks made it acceptable to pay $5 for coffee and made lattes and macchiatos common place in North America.

[SpongeG]

Old Faithful is opening a second store on West 4th in Kits.

LATE SUMMER / EARLY AUTUMN
COMING SOON TO KITSILANO
We’re excited to announce that we will be opening a second store location in Vancouver at 1985 West 4th in late summer/early autumn. We are currently hiring for all positions. Submit your resume here.

https://www.oldfaithfulshop.com/

[dreambrother808]

None of the people who think that Starbucks is hurting in Canada or Vancouver have any sources of information to back up their claims. It’s all speculation based mostly on their personal preferences. Starbucks still has far more locations than any other coffee chain or restaurant business in this city. Is that what hurting is? Locations close and nearby ones become more productive and profitable. It’s as simple as that. A company that makes a lot of money wants to turn a higher profit and continue to drive up shareholder value, as it already has. The strategy has been quite successful.

That being said it has run its course with the previous round and this specific closure is a one-off most likely portending a newer location. Rent could also be a factor.

[jollyburger]

When Jolibee was announced they announced Starbucks.

Located at the high-profile intersection of Cambie Street and West Broadway, these brand new retail units have been leased by tenants including ������ TD Canada Trust, ☕️ Starbucks, ������ Jollibee, and ������ Pi Co.

https://www.instagram.com/p/CR1q2JVMfWb/

[SpongeG]

re: Starbucks closing. The old one at Brentwood closed up with that big round of closures and if you walk past today it still has all the equipment and syrups and everything just abandoned, is that normal for a big chain like them to just walk away and leave everything as is?

[jollyburger]

Originally Posted by SpongeG

re: Starbucks closing. The old one at Brentwood closed up with that big round of closures and if you walk past today it still has all the equipment and syrups and everything just abandoned, is that normal for a big chain like them to just walk away and leave everything as is?

No they usually paper up right away and remove signage/equipment ASAP. There must be some reason for it being left like that.

[SpongeG]

ok, yea its weird, even the gift cards are still sitting out.

[djh]

Originally Posted by dreambrother808

None of the people who think that Starbucks is hurting in Canada or Vancouver have any sources of information to back up their claims. It’s all speculation based mostly on their personal preferences. Starbucks still has far more locations than any other coffee chain or restaurant business in this city. Is that what hurting is? Locations close and nearby ones become more productive and profitable. It’s as simple as that. A company that makes a lot of money wants to turn a higher profit and continue to drive up shareholder value, as it already has. The strategy has been quite successful.

That being said it has run its course with the previous round and this specific closure is a one-off most likely portending a newer location. Rent could also be a factor.

In addition, that one on Cambie/8th (not 7th, as had been stated) was bearing the load for what were 2 Starbucks (the other one was Cambie & Broadway, but closed when the building was demolished for redevelopment). And then, they turned the remaining one into a special Reserve Bar Starbucks - it was just too small for handling 2 Starbucks' worth of traffic in the first place.

All of that makes me convinced that their plan is to reopen a new, way bigger Starbucks in the new building, back on their old site at Cambie & Broadway. It will be plenty big enough to handle all the skytrain traffic at that major transit hub, plus have room for a Reserve bar inside of it. That new building has pretty big retail units.

[jollyburger]

Originally Posted by djh

In addition, that one on Cambie/8th (not 7th, as had been stated) was bearing the load for what were 2 Starbucks (the other one was Cambie & Broadway, but closed when the building was demolished for redevelopment). And then, they turned the remaining one into a special Reserve Bar Starbucks - it was just too small for handling 2 Starbucks' worth of traffic in the first place.

All of that makes me convinced that their plan is to reopen a new, way bigger Starbucks in the new building, back on their old site at Cambie & Broadway. It will be plenty big enough to handle all the skytrain traffic at that major transit hub, plus have room for a Reserve bar inside of it. That new building has pretty big retail units.

It's 1400 square feet. They are not sticking a Reserve in it.

[WarrenC12]

Originally Posted by djh

In addition, that one on Cambie/8th (not 7th, as had been stated) was bearing the load for what were 2 Starbucks (the other one was Cambie & Broadway, but closed when the building was demolished for redevelopment). And then, they turned the remaining one into a special Reserve Bar Starbucks - it was just too small for handling 2 Starbucks' worth of traffic in the first place.

At one point they had Cambie and Broadway, Cambie and 12th (City Square), *and* Heather and Broadway (2 blocks over).

Anecdotally the Cambie and 8th location was not really any busier once those others closed. City Square was always pretty dead. Heather and Broadway was small but busy. There are hundreds if not thousands of workers within a few blocks.

VGH still has a very small and incredibly busy location up on Oak and 12th.

[djh]

Originally Posted by jollyburger

It's 1400 square feet. They are not sticking a Reserve in it.

?

I'm guessing you mean the new space in the new development at Cambie?Broadway is 1400 sq. ft?

Or do you mean the just-closed Starbucks was 1400 sq. ft.?

Either way, why would that mean a Reserve Starbucks couldn't go into it?

I remember the Reserve that opened on Main and ~14th? That was probably about 1400 sq. ft. What of it?